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A private company in 2005 came up with an offer to start a bouquet of multimedia and telecom services and got into an agreement with Antrix Corporation, the commercial wing of Indian Space Research Organisation (ISRO), and made a deal of leasing out two of ISRO's satellites, GSLV-6 & GSLA-6A, for private services at a throw-away price.
The deal was cancelled in 2011 on the ground that the auction of the broadband spectrum was mired in fraud and that the government needed the S-band satellite spectrum for national security and other social purposes.
Union Minister of Finance Nirmala Sitharaman said on Tuesday that the 2005 deal between ISRO's commercial arm Antrix and privately-owned Devas Multimedia was a "fraud of the Congress, by the Congress and for the Congress".
The Indian government will use the Supreme Court order upholding liquidation of Devas Multimedia Pvt. to fight the enforcement of arbitration awards being sought by the company in courts across the world.
A private company in 2005 came up with an offer to start a bouquet of multimedia and telecom services and got into an agreement with Antrix Corporation, the commercial wing of state space agency, Indian Space Research Organisation (ISRO), and made a deal of leasing out two of ISRO's satellites, GSLV-6 & GSLA-6A, for private services at a throw-away price.