Antrix-Devas deal: ED files money laundering case

The Enforcement Directorate (ED) has registered a money laundering case to probe into the alleged Rs 578-crore "wrongful" gain to private multi-media company Devas by Antrix, the commercial arm of Indian Space Research Organisation.

A criminal case under the Prevention of Money Laundering Act has been filed by the agency's zonal office in Bengaluru after taking cognisance of a Central Bureau of India (CBI) First Information Report (FIR) in the case, registered in March this year.

"The agency has named various individuals and entities in its complaint who were earlier named in the CBI FIR," official sources said.

The proceeds of crime in this case are being detected and summons will be issued soon," official sources said.

The agency is already probing alleged instances of foreign exchange "contraventions" in this deal after it registered a case in this regard in 2012. Now, with the slapping of fresh charges under PMLA, sources said that a set of fresh Letters Rogatory (overseas judicial requests) will be sent to the US and a few other countries seeking assistance.

CBI had registered the FIR against Executive Director of Antrix, KR Sridhara Murthi, MG Chandrasekhar and R Vishwanathan of Forge Advisors, Devas Multi-media Private Ltd and unnamed officials of Antrix, ISRO and Department of Space.

The agency had slapped sections like 120-B (criminal conspiracy) and 420 (cheating) of Indian Penal Code along with relevant sections of Prevention of Corruption Act against them.

The Antrix-Devas deal had seen the early exit of G Madhavan Nair as Chairman of ISRO as he was the head of the Governing Council of Antrix when the deal was finalised.

CBI had alleged that the accused persons had entered into a criminal conspiracy and the government officials abused their position by favouring Devas by giving it rights for delivery of videos, multi-media 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 had alleged.

The ED, sources said, will here look for the flow of tainted funds, suspected to have been laundered by the accused to create personal assets.