iconimg Friday, September 04, 2015

HT Correspondent, Hindustan Times
Thiruvananthapuram, March 08, 2013
The Central Administrative Tribunal on Friday dismissed former ISRO chairman G Madhavan Nair’s plea seeking quashing of the Centre’s decision to debar him from holding top government posts for his alleged role in the controversial Antrix-Devas deal.
A probe by the central vigilance commissioner found serious irregularities in the deal under which Antrix, the commercial arm of the Indian Space Research Organisation, was to provide S-band spectrum to Devas Multimedia Private Ltd by leasing out transponders of two satellites to be built mainly for Devas.

The CAG estimated that the deal cause a loss of about Rs. 2 lakh crore to the exchequer and the deal was cancelled by the central government.