SC keeps in abeyance effect of US court order asking Antrix to pay compensation to Devas

NEW DELHI: The Supreme Court Wednesday kept in abeyance the effect of a recent order by a court in USA which had asked Antrix Corporation, the commercial arm of ISRO, to pay compensation of USD 1.2 billion to Bengaluru-based startup Devas Multimedia for cancelling a satellite deal in 2005.

As per the agreement in January 2005, Antrix 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.