SC decision on Antrix-Devas deal, why Congress accused of forgery?

New Delhi: Union Finance Minister Nirmala Sitharaman held a press conference on the Antrix-Devas deal on Tuesday (January 18, 2022). He attacked Congress saying that only resources have been misused during the UPA regime. He said the deal, which took place in 2005, was cancelled by the Congress NEET alliance UPA in 2011 as it was a fraud deal.

Sitharaman justified the Supreme Court's verdict saying the deal was signed between Antrix-Devas in 2005. It was a huge betrayal of the people of the country and the country, the mastermind of this game is the Congress. The Supreme Court order shows how the UPA government had resorted to wrong tactics. The Finance Minister also said that the Antrix-Devas deal was completely against national security.

The Supreme Court on Monday (January 17, 2022) rejected a petition challenging the closure of the NCLT and NCLAT company in a major verdict in the Devas-Antrix deal case. The Supreme Court has upheld NCLT's May 2021 order to close down Bengaluru-based Devas multimedia.

What's the matter?

In 2005, a satellite service deal was signed between Devas Multimedia and Antrix Corporation. The satellite was to be used for mobile conversations under the deal, but the government's permission was not sought. Devas Multimedia was a startup that was created in 2004 by MD Chandrashekhar, former Scientific Secretary of ISRO. It was quashed in 2011 due to allegations of forgery. Indian company Devas Multimedia was engaged in a lot of money from foreign investors. The cancellation of the deal had caused a lot of trouble to foreign investors.

It took the government from 2005 to 2011 to understand the fraud of Devas multimedia, which gave foreign investors an opportunity to approach the Canadian court against the Government of India. Last year, a Canadian court ordered the confiscation of air India and airport authority of India's foreign assets, but this month the Canadian court stayed its own decision. The matter was revealed in a CBI inquiry conducted in 2015 after the Modi government came to power.

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