Who signed Devas Antrix deal?
2005: Antrix Corporation, the commercial arm of India’s space agency, had signed a deal with Devas Multimedia, a satellite company to build two satellites and offer digital multimedia services using S-band spectrum over 20 years. 2008: Deutsche Telekom spent nearly $ 100 million for nearly 20% in Devas Mutimedia.
What is Devas Antrix deal?
In 2005, ISRO arm Antrix agreed to launch two satellites for private company Devas Multimedia. The agreement included unbridled 20-year use of 70 MHz of S-band spectrum. Devas Multimedia agreed to pay $40 million as pre-launch capacity reservation and $250 million for satellite capacity lease.
What does Devas Multimedia do?
Devas Multimedia Private Limited offers satellite based multimedia services. The Company provides multimedia content creation and transmits content using internet and satellite. Devas Multimedia serves customers in India.
Who are promoters of Devas?
The Bangalore-based start-up, founded in 2004, is headed by Dr. M.G. Chandrasekhar, former Scientific Secretary at ISRO. He was earlier Managing Director of the satellite radio company WorldSpace, which shut shop in India last year. In 2008, Deutsche Telekom picked up 17 per cent stake in Devas for about $75 million.
Who are owners of Devas?
President/CEO, Devas Multimedia Pvt Ltd.
What is the difference between Antrix and NSIL?
Whilst NSIL also works towards improving the local industry’s space expertise, Antrix handles ISRO’s deals with foreign customers. But, largely, both these entities have similar mandates. In fact, many observers were confused over the need to create another commercial arm in the first place.
Who is owner of Devas Multimedia?
The ED informed a special court in Bengaluru about the serving of summons on Ramachandran Vishwanathan, Founder CEO of Devas Multimedia, and Devas Multimedia America Inc (DMAI), the US subsidiary.
What is difference between Antrix and NSIL?
Who is owner of Devas?
The Bangalore-based start-up, founded in 2004, is headed by Dr. M.G. Chandrasekhar, former Scientific Secretary at ISRO. He was earlier Managing Director of the satellite radio company WorldSpace, which shut shop in India last year.
Who is Ramachandran Viswanathan?
Ramachandran Viswanathan is the Founder and CEO at Devas Multimedia .
Is NSIL under ISRO?
NSIL is the commercial arm of Indian Space Research Organisation (ISRO) with the primary responsibility of enabling Indian industries to take up high technology space related activities and is also responsible for promotion and commercial exploitation of the products and services emanating from the Indian space …
What is the meaning of Antrix?
Antrix is the commercial arm of Indian Space Research Organisation (ISRO). Antrix promotes and commercially markets the products and services emanating from the Indian Space Programme.
Who is the owner of Devas?
Is Antrix commercial arm of ISRO?
Antrix Corporation Limited was incorporated as a private limited company owned by Government of India in September 1992 as a Marketing arm of ISRO for promotion and commercial exploitation of space products, technical consultancy services and transfer of technologies developed by ISRO.
Who is the owner of Devas Multimedia?
President/CEO, Devas Multimedia Pvt Ltd.
What does the word Devas mean?
Deva (/ˈdeɪvə/; Sanskrit: देव, Deva) means “heavenly, divine, anything of excellence”, and is also one of the terms for a deity in Hinduism. Deva is a masculine term; the feminine equivalent is Devi.
Who are devas shareholders?
Devas shareholders include US investment groups Columbia Capital and Telecom Ventures as well as Deutsche Telekom. The Supreme Court on Monday upheld the winding up of Devas Multimedia saying,” it is a case of fraud of a huge magnitude which cannot be brushed under the carpet, as a private lis”.
Who are the 9 devas?
The nine Devas, Khleangs artwork from Cambodia (~1000 CE). From left to right: Surya (Sun) on chariot, Chandra (Moon) on pedestal, Shiva on bull, Varuna on crocodile, Indra on elephant, Kubera on horse, Agni on ram, Rahu on clouds and Ketu on lion.
How many Devs are there in Hinduism?
The Samhitas, which are the oldest layer of text in Vedas enumerate 33 devas, either 11 each for the three worlds, or as 12 Adityas, 11 Rudras, 8 Vasus and 2 Asvins in the Brahmanas layer of Vedic texts.
What is the Antrix-Devas s-band agreement?
As per the agreement between Antrix Corporation and Devas Multimedia, Antrix was to provide 70 MHz of the scarce S-Band space segment, which is generally to be used by security forces and government telecom entities, to Devas for its digital multimedia services.
What happened to the Antrix Devas deal?
As a result of the deal, Devas introduced and utilised technologies like never before and was a huge revenue generator for Antrix. Scrapping of the Deal: The deal was cancelled in 2011 on the ground that the auction of the broadband spectrum was mired in fraud.
What is the Antrix-ISRO deal case?
Filling of Corruption Charges: Meanwhile, in August 2016, the Central Bureau of Investigation (CBI) filed a charge sheet against officials from Devas, ISRO and Antrix linked to the deal for “being party to a criminal conspiracy”. Amongst them, were the former ISRO chairman G Madhavan Nair and former Antrix executive director K R Sridharamurthi.
Was Antrix-Devas deal a fraud against India?
Representative Image. Getty On Tuesday, finance minister Nirmala Sitharaman said that the Antrix-Devas deal signed during the UPA rule was a fraud against India. Sitharaman made the remarks at a press conference a day after the Supreme Court upheld the NCLAT, NCLT order to liquidate Devas Multimedia.