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Government opposes international award for Devas, Finance Minister says


Government opposes international award for Devas, Finance Minister says

Nirmala Sitharaman says the NDA government has fought in every court over the Antrix-Devas . deal

The government on Tuesday said it would oppose the international award awarded to Devas Multimedia Limited, after the Supreme Court on January 17 rejected the company’s appeal challenging the Court of Appeal’s order National Companies Act (NCLAT) to liquidate it.

Speaking at a press conference a day after the order of the highest court, finance minister Nirmala Sitharaman said in a press conference that the process of liquidation of Devas will begin soon.

Commenting on the Supreme Court’s upholding the NCLAT’s decision to block Devas, she blamed the original UPA regime for not appointing an arbitrator on the matter nor invoking the benefit clause. national interest.

In 2005, Antrix, the commercial arm of the Indian Space Research Organization (ISRO), agreed to develop and operate two satellites and leased to Devas 90% of the satellite transponder capacity.

However in 2011, during the term of the UPA itself, the agreement was annulled, although Devas protested the decision of the international arbitration and was awarded damages of Rs 15,000.

Ms. Sitharaman, while speaking at length about the 17 January order of the Supreme Court, alleged that the Antrix-Devas deal was a fraud and caused great damage to the contest.

“This is a case of fraud. It was revealed in the decision of the Supreme Court of India,” the finance minister said.

She accused the Congress-led UPA regime of allowing fraudulent trading and letting it drag on for years.

“In 2011, when the whole thing was annulled, Devas brought international arbitration, the Government of India never appointed an arbitrator. It was prompted to appoint an arbitrator within the ring. 21 days, but the Government didn’t appoint anyone,” she said.

“The Supreme Court order shows how the UPA government has committed wrongdoings. The Antrix-Devas Agreement is against national security. It will be the Congress party’s turn to say how this fraud has worked. caused to the people of India,” she added.

She called the whole matter a “Congressional fraud, Congressional fraud, and Congressional fraud”.

The Finance Minister said that only after the NDA led by Narendra Modi came to power in 2014, the whole matter was taken from one court to another.

“The government is fighting in every court to keep Devas from getting away with the Antrix transaction fraud,” she said.

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