1. CBI files chargesheet against ISRO Chairman G Madhavan Nair and others

CBI files chargesheet against ISRO Chairman G Madhavan Nair and others

CBI has filed a charge sheet against former ISRO Chairman G Madhavan Nair and other senior officials who have been booked for the Antrix-Devas deal case

By: | Updated: August 11, 2016 5:47 PM
The failed deal and the internal discrepancies in the financial transactions was highlighted in 2011 (Express Photo) The failed deal and the internal discrepancies in the financial transactions was highlighted in 2011 (Express Photo)

CBI has filed a charge sheet against former ISRO Chairman G Madhavan Nair and other senior officials who have been booked for the Antrix-Devas deal case. India had lost its arbitration case against Bengaluru’s Devas Multimedia Private Ltd. after it cancelled its satellite contract with the Government company.

The Antrix-Devas deal was signed in 2005 with G. Madhavan Nair as the head of the Department of Space at ISRO. Nair had blamed the UPA government for the major crisis faced by the organisation due to the scam. The failed deal and the internal discrepancies in the financial transactions was highlighted in 2011.  After the Manmohan Singh-led UPA government cancelled the deal, Devas Multimedia Private Ltd filed a suit against Antrix and the government for the cancelled deal. However, the Department of Space had said that an FIR has been filed by the Central Bureau of Investigation (CBI) in order to probe the Antri-Devas deal. The Enforcement Directorate (ED) had also initiated an investigation under the Prevention of Money Laundering Act (PMLA) and Foreign Exchange Management Act (FEMA). Nair’s tenure of six years in ISRO saw 25 accomplished space missions.

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