Devas may take legal action if Isro deal is annulled

Stating its deal with the commercial arm of Indian Space Research Organisation (Isro) was “legally binding”, Devas Multimedia on Wednesday said it may take strong action, if its S-band spectrum allocation deal was annulled. The Bangalore-based company said “Devas expects the government to fulfill all its obligations under the agreement and will even take legal steps to protect the company’s rights and interests.” Reacting to the PM’s statement, the company said, “We have grave concerns regarding the government’s statement on pre-meditated annulment of the agreement, despite a pending High Power Committee and CAG reviews, which are still in the preliminary stages.” The government’s unilateral decision without due investigative process and without following the principles of natural justice is disturbing and inappropriate, it added. The agreement between Antrix, the commercial arm of Isro and Devas, signed January 28, 2005, is likely to be annulled following a public uproar that it would cause the government huge revenue losses.