Termination notice of agreement sent to Devas: Govt

New Delhi: With the government deciding to scrap the controversial deal between ISRO’s commercial arm Antrix and the Indian unit of a US firm, a notice of termination of the agreement for lease of premium space segment has been served to Devas.
“Antrix has sent the agreement termination notice to Devas on February 25,” Minister of State in Prime Minister’s Office V Narayanasamy said during Question Hour in Rajya Sabha.
After a memorandum of understanding signed in July 2003 between Antrix Corp and Forge Advisors of USA, Antrix had entered into an agreement with Devas Multimedia Pvt Ltd on January 28, 2005 for leasing part of the space segment capacity in S-band on two geostationary satellites.
The agreement provided for leasing of 90 per cent of the space segment capacity by Antrix to Devas on two satellites for 12 year.