Antrix-Devas Deal

TMS Ep256: Central Vista, Ravi Narain, markets, Antrix-Devas deal

How does Central Vista change the corridors of power? Is Ravi Narain another fallen market hero? What should investors do as India shines amid global gloom? What is the Antrix-Devas deal? Answers here

What is the story of the Antrix-Devas deal?

In a big win for the Central govt, the Delhi High Court has set aside an arbitral award that directed ISRO's commercial arm Antrix Corpn to pay over $560 mn to start-up Devas Multimedia. Here's more

The Delhi High Court has set aside an arbitration award that asked Antrix to pay $562 mn to Devas

The lease was given in violation of rules, causing an undue gain of Rs 578 cr to Devas Multimedia

Assets were attached on the basis of a provisional order issued by the ED PMLA