Antrix

Devas Multimedia has seized USD 87,457.47 cash that ISRO's commercial arm Antrix Corporation held in the US as it looked to enforce a USD 1.2 billion compensation it had won over a cancelled satellite deal, its lawyer said on Wednesday.

Unfazed by Supreme Court upholding winding up of the company, shareholders of Devas Multimedia will continue to seek seizure of overseas Indian assets

The government will use the Supreme Court order calling the 2005 deal between ISRO's commercial arm Antrix and privately-ownedDevasMultimedia a fraudto counter seizure of its properties, Finance Minister Nirmala Sitharaman said

Government will oppose the international award given to Devas Multimedia Limited after the Supreme Court upheld NCLAT's order to wind up the company

The Supreme Court on Monday dismissed an appeal filed by Devas Multimedia challenging a court order to wind up the company. A day later, Finance Minister Nirmala Sitharaman said a 2005 deal between Devas and Antrix Corporation was a proven fraud.

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".

A US court has asked Antrix Corporation, the commercial arm of ISRO, to pay compensation of USD 1.2 billion to a Bengaluru-based startup, Devas Multimedia, for cancelling a satellite deal in 2005.

A total of 239 satellites were launched by Indian Space Research Organisation's (ISRO) commercial arm Antrix Corporation in the last three years, garnering revenue of Rs 6,289 crore, the government informed Parliament today

The Enforcement Directorate imposed a Rs 1,585 crore penalty on satellite services provider Devas Multimedia Ltd, its directors and foreign investors for illegal foreign investment of Rs 579 crore against the Foreign Exchange Management Act 1999

The 33-hour countdown for the launch of two earth observation satellites on-board PSLV from the space port of Sriharikota, about 110 kilometers from Chennai, began at 1.08 PM on Saturday.

The two satellites belong to Surrey Satellite Technologies Ltd (SSTL), UK, under commercial arrangement with Antrix Corp - the commercial arm of ISRO.

ISRO's commercial arm Antrix Corporation is waiting for India to enter the multi-billion dollar space business.

ISRO and its commercial wing Antrix on Wednesday said they are willing to outsource manufacturing of Polar Satellite Launch Vehicle and the Small Satellite Launch Vehicle.

ISRO and its commercial wing Antrix today said they are willing to outsource manufacturing of Polar Satellite Launch Vehicle (PSLV) and the Small Satellite Launch Vehicle (SSLV) so that the space agency could focus on the proposed human space programme.

While it takes about 300-400 people between 45 and 60 days to prepare major satellite vehicles, SSLVs would require only 72 hours and 3-6 people for launch.

Devas Multimedia has seized USD 87,457.47 cash that ISRO's commercial arm Antrix Corporation held in the US as it looked to enforce a USD 1.2 billion compensation it had won over a cancelled satellite deal, its lawyer said on Wednesday.

Unfazed by Supreme Court upholding winding up of the company, shareholders of Devas Multimedia will continue to seek seizure of overseas Indian assets

The government will use the Supreme Court order calling the 2005 deal between ISRO's commercial arm Antrix and privately-ownedDevasMultimedia a fraudto counter seizure of its properties, Finance Minister Nirmala Sitharaman said

Government will oppose the international award given to Devas Multimedia Limited after the Supreme Court upheld NCLAT's order to wind up the company

The Supreme Court on Monday dismissed an appeal filed by Devas Multimedia challenging a court order to wind up the company. A day later, Finance Minister Nirmala Sitharaman said a 2005 deal between Devas and Antrix Corporation was a proven fraud.

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".

A US court has asked Antrix Corporation, the commercial arm of ISRO, to pay compensation of USD 1.2 billion to a Bengaluru-based startup, Devas Multimedia, for cancelling a satellite deal in 2005.

A total of 239 satellites were launched by Indian Space Research Organisation's (ISRO) commercial arm Antrix Corporation in the last three years, garnering revenue of Rs 6,289 crore, the government informed Parliament today

The Enforcement Directorate imposed a Rs 1,585 crore penalty on satellite services provider Devas Multimedia Ltd, its directors and foreign investors for illegal foreign investment of Rs 579 crore against the Foreign Exchange Management Act 1999

The 33-hour countdown for the launch of two earth observation satellites on-board PSLV from the space port of Sriharikota, about 110 kilometers from Chennai, began at 1.08 PM on Saturday.

The two satellites belong to Surrey Satellite Technologies Ltd (SSTL), UK, under commercial arrangement with Antrix Corp - the commercial arm of ISRO.

ISRO's commercial arm Antrix Corporation is waiting for India to enter the multi-billion dollar space business.

ISRO and its commercial wing Antrix on Wednesday said they are willing to outsource manufacturing of Polar Satellite Launch Vehicle and the Small Satellite Launch Vehicle.

ISRO and its commercial wing Antrix today said they are willing to outsource manufacturing of Polar Satellite Launch Vehicle (PSLV) and the Small Satellite Launch Vehicle (SSLV) so that the space agency could focus on the proposed human space programme.

While it takes about 300-400 people between 45 and 60 days to prepare major satellite vehicles, SSLVs would require only 72 hours and 3-6 people for launch.