A US Court asks ISRO’s commercial arm to pay $1.2 billion compensation to Bengaluru start-up

A U.S. District Judge has on 27 October 2020, asked ISRO’s arm  Antrix to pay money amounting to $1.2 bn as compensation to Bangaluru-based start-up,  Devas Multimedia, for canceling a  satellite deal in 2005.

0
30
ISRO’s commercial arm to pay $1.2 billion compensation

According to news reports, a U.S. District Judge has on 27 October 2020, asked ISRO’s arm  Antrix to pay money amounting to $1.2 bn as compensation to Bangaluru-based start-up,  Devas Multimedia, for canceling a satellite deal in 2005.

As per agreement in January 2005, Antrix had agreed to build, launch and operate two satellites and to make available 70 MHz of S-band spectrum to Devas,  which the latter planned to use to offer hybrid satellite and terrestrial communication services throughout  India. The agreement was terminated by Antrix in February 2011. The matter has been in litigation in India and in the  U.S. since then.

Obviously, the compensation ruled by the court constitutes compulsive expenses unless overruled by a higher court of law.  In this context, it may be apt to refer readers to one of the predictive alerts of this  Vedic astrology writer in the article “India in the year 2021 – planetary impacts interpreted”  published at theindiapost.com on 7  September 2020 which reads as follows:-

“ ( 3 ).  The planetary movements towards the last four months,  particularly  November-December, in the present year  2020 suggest that questions of commitments or liabilities or discharge,  economic or otherwise,  look to be arising. Such commitments or liabilities or discharge may have something to do with the distant or recent past or even present,  covering such aspects as the space program,  telecommunication system,  cyber  ………….., and the like.  Some compulsive expenses of sizeable nature can come up”.

A  closer reading of the content brought out here appears to be suggesting the accuracy and meaningfulness of the predictive alert published on 7 September 2020.

Related: Under the French President Macron- Property Act, Muslims can be shut down

Author: The article is provided by the Independent reporter Mr. Kaushal Kumar, 202-GH28, Mansarovar Apartments, Sector 20, Panchkula-134116, Haryana, India.

LEAVE A REPLY

Please enter your comment!
Please enter your name here