CBI conducts raids in connection with Devas-Antrix deal

New Delhi: CBI on Wednesday carried out searches after registering a case to probe an alleged Rs 578-crore "wrongful" gain to a private multi-media company Devas by Antrix, the commercial arm of ISRO.After registering a case on Monday, CBI sleuths conducted the searches at the premises of Devas Limited as well as the then Executive Director of Antrix K R Sridhara Murthi in Bengaluru, official sources said.[caption id="attachment_2161005" align="alignleft" width="380"] AFP[/caption]CBI registered a case and submitted an FIR against Murthi, M G Chandrasekhar and R Vishwanathan of Forge Advisors, Devas Multi-media Private Limited and unnamed officials of Antrix, ISRO and Department of Space in a designated court in Bengaluru.The agency has slapped 120-B (criminal conspiracy), 420 (cheating) of Indian Penal Code and relevant sections of Prevention of Corruption Act against them.The Antrix-Devas deal had seen early exit of G Madhavan Nair as Chairman of ISRO as he was the Chairman of the Governing Council of Antrix when the deal was finalised.It is alleged that the accused people had entered into a criminal conspiracy and the government officials abused their position by favouring Devas by giving them rights for delivery of videos, multimedia and information services to mobile phones using S-Band through GSAT-6 and GSAT-6A satellites and terrestrial systems in India.The accused officials "thus caused wrongful gain of Rs 578 crore" to the private firm and its owners, CBI alleged.CBI said that a deal between Antrix and Devas was fixed in principle in January 2005 for lease of S-Band transponders. However, the then Executive Director of Antrix signed it on behalf of Antrix six months later only after ensuring that Chandrashekhar and Vishwanathan were majority stakeholders in Devas multi-media, which roles they continued till 2008-09.The change in the board, where a US company represented by Chandrashekar and Vishwanathan had majority stakes, was never verified by Antrix as the agreement had gone in violation of Shankara Committee which had recommended execution of any such agreement with an Indian company only.PTI