Antrix Corp

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

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