ISRO-DEVAS SCAM: 70 MHZ STRATEGIC S-BAND SPECTRUM GIVEN TO PRIVATE FIRM FOR PITTANCE
Antrix-Devas Deal Signed in Secret without Cabinet Approval; Estimated Loss of ₹2 Lakh Crore
In February 2011, investigative reports exposed that Antrix Corporation (commercial arm of ISRO) had signed a sweetheart deal with private startup Devas Multimedia, leasing 70 MHz of prime S-band satellite spectrum for 12 years at just ₹1,400 Crore.
S-band spectrum, crucial for defense communications and mobile broadband, had been valued at over ₹2 Lakh Crore in market parity.
Following public outrage, the Union Cabinet annulled the agreement on 17 February 2011, which later resulted in massive international arbitration claims against India.
📌 Key Figures & Decision Makers
- ▸ G. Madhavan Nair (ISRO Chairman)
- ▸ K. Radhakrishnan
- ▸ Devas Multimedia Executives
- • Report of the High Powered Review Committee on Antrix-Devas Deal (B.K. Chaturvedi Panel) (Cabinet Secretariat, 2011)