India To Pay Big For Scrapping ISRO Satellite, Spectrum Deal: 10 Facts

amarnathkvk

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[font=Roboto, sans-serif]THE HAGUE: [/font]

[font=Roboto, sans-serif] India has lost a major case in international arbitration involving spectrum and satellites and may have to pay up to a billion dollars in damages. Today's verdict from the International Tribunal at the Hague could further the perception of India as an unreliable recipient of foreign investment, one who is prone to abrupt policy changes.[/font]


  1. The case in the Hague was filed against the government of India by Devas Multimedia, a telecom firm based in Bengaluru with a roster of US investors.

  2. In 2005, Devas was told it could use valuable S-band spectrum by leasing space on two Indian satellites.
  3. The deal with Devas was struck by Antrix, which the commercial branch of the state-run Indian Space and Research Organisation or ISRO. Antrix is meant to monetise a selection of ISRO services by offering them to private firms.
  4. Devas planned to use the leased satellite transponders and spectrum to provide broadband and multi-media services across the country including in remote areas. Antrix agreed that the satellites needed would be built by ISRO.
  5. Antrix was to be paid nearly 600 crores over 12 years. But in 2011, the contract was cancelled.  The government of Dr Manmohan Singh said that it had not signed off on ISRO's plans to build the satellites.  
  6. Antrix was also charged with not following a bidding process in allocating the satellite space and spectrum to Devas.
  7. The decision was seen as heavily influenced by the blockbuster 2g scam, which had besieged Dr Singh's government, with allegations of sweetheart deals to telecom firms who were given second-generation or 2G airwaves.
  8. Investigators said that former ISRO officials had been hired by Devas and they helped in skewing the deal heavily in the telecom's favour.
  9. Madhavan Nair, who headed ISRO when the Devas deal was signed, was blacklisted for any government role and investigated for charges of corruption. Mr Nair told NDTV today that the international verdict against India is the "result of thoughtless action and hasty reaction" by the government.
  10. The damages, said sources familiar with today's verdict, could be in the range of a billion dollars based on precedent in similar cases. They also said that Devas is likely to be entitled to about $750 million, and its US investors, who sued the government separately, are likely to win about $300 million in the coming months.
India To Pay Big For Scrapping ISRO Satellite, Spectrum Deal: 10 Facts
 
Oh great. Congress has given another remarkable $1 Billion Gift to the Nation  :wall
 
Fate of this verdict will be same like China is ignoring verdict on south china sea as there is no delivery mechanism .
 
I think India should stop acting hastily based on CAG reports and cabinet should have the boldness to defend such tech deals. For those who remember CAG alleged the Antrix-Devas deal was causing Rs. 2,00,000 crore loss to country. Deal was scrapped and Nair dumped from ISRO. Now if we stopped worrying about imaginary loss by not charging huge fees from tech firms, then we may have benefited us by lowering broadband costs. So according to me the biggest mistake of the Congress was not in the 'loss' due to awarding low cost spectrum but in destroying technology deals to look clean and saving their own a**. In fact even in 2G case the cancellation of license lead to many companies leaving India and increasing customer tariff due to re-auctions.
 
One of the recent news is USA dumbs Sat operators & releases the 5g spectrum for telecom operators. But in India still there is no consensus on right of 5g spectrum.
 
abhinaba said:
Fate of this verdict will be same like China is ignoring verdict on south china sea as there is no delivery mechanism .

world cannot live without china but can without India bcoz we are poor country where as china is the manufacturing hub of world  ;)
 
abhinaba said:
One of the recent news is USA dumbs Sat operators & releases the 5g spectrum for telecom operators. But in India still there is no consensus on right of 5g spectrum.

3G is yet to be available throughout India and you are asking 5G on top of that there is data which is more pricy than gold.  :lol
 
Sarkar said:
world cannot live without china but can without India bcoz we are poor country where as china is the manufacturing hub of world  ;)

India is the 3rd largest economy in PPP & you say world can live without us !!!!! Even after nuclear bomb test U.S lifted embargo on us , reason is simple - they can't ignore our big market.
 
abhinaba said:
India is the 3rd largest economy in PPP & you say world can live without us !!!!! Even after nuclear bomb test U.S lifted embargo on us , reason is simple - they can't ignore our big market.

I think you missed the news that India now a 'lower-middle-income' economy downgraded from developing economy thanks to 50 years of congress rule  :dodgy
 
Sarkar said:
I think you missed the news that India now a 'lower-middle-income' economy downgraded from developing economy thanks to 50 years of congress rule  :dodgy

If India is now a 'lower-middle-income' economy then why all big brands are knocking at govt's door for opening of their shops ? And you are blaming Congress party for all evils but nationalisation of banks,economic liberalization,highest growth of Indian economy etc. etc. - all occurred during their regimes. After all during NDA regime India bought Admiral Goroskov - a piece of junk for which CAG slammed govt. So, please stop political discussion here.
 
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