No wrongdoing in Antrix-Devas deal: Madhavan Nair

Former ISRO chairman G. Madhavan Nair, who has been chargesheeted in the Antrix-Devas deal by the CBI, said on Thursdathat there was nothing wrong in the deal on Thursday.

"There was nothing wrong in the deal and I do not know how the chargesheet has come. There was vested interest behind this and the previous ISRO chairman K.Radhakrishnan had given wrong statements," said Nair.

Antrix is the commercial arm of Indian Space Research Organisation (ISRO).

The development comes a month after India lost an arbitration case in an international tribunal against the Bengaluru-based Devas Multi-media Private Ltd. for cancelling the space/satellite contract with the government-owned Antrix Corporation.

The CBI case pertains to a deal between Devas and Antrix that took place in 2005, for lease of S-Band transponders when Nair was chairman of ISRO and Secretary, Department of Space.

In May, Nair was called in by the CBI for presenting his side of the story.

The contract was cancelled by Radhakrishnan.

--IANS

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