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Devas Multimedia comes under ED scanner

The ED has written to the Central Bureau of Investigation (CBI) for details of a case of cheating, criminal conspiracy and corruption.

devas multimedia, election directorate, cbi, central bureau of investigation, cbi news, ed news, bangalore news, india news The ED has written to the Central Bureau of Investigation (CBI) for details of a case of cheating, criminal conspiracy and corruption.

The Enforcement Directorate (ED) is set to pursue a Prevention of Money Laundering Act case against Bangalore-based Devas Multimedia that was involved in a controversial, cancelled 2005 deal with the Indian Space Research Organisation’s commercial arm Antrix Corporation for launch of two satellites to enable the firm to access S-band space spectrum.

The ED has written to the Central Bureau of Investigation (CBI) for details of a case of cheating, criminal conspiracy and corruption registered in March against former officials of Antrix and Devas Multimedia in the US and India to begin its own money laundering investigations, sources said.

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The sources said the ED sought details of the criminal complaint filed by the CBI against Devas Multimedia, a start up promoted by a few former ISRO officials, and ISRO’s Antrix Corporation to begin formal investigations into the flow of funds to the tune of Rs 578 crore from various foreign investors into the relatively unknown company involved in the deal.

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The CBI last month announced the registration of a case against Antrix and Devas over the cancelled deal “for delivery of video, multimedia and information services to mobile receivers in vehicle and mobile phones via S-Band through GSAT-6 and GSAT-6A satellites and terrestrial systems in India”.

“An alleged loss of Rs 578 crore (approx) was caused,” the CBI had stated.

Festive offer

The CBI has named the US-based CEO of Devas Multimedia, Ramachandran Viswanathan; a founder of Devas Multimedia and former ISRO official M G Chandrashekhar; and former executive director of Antrix K Sridharmurthi among the accused in its case.

Sridharmurthi, and the former ISRO chairman G Madhavan Nair were incidentally ex-communicated from all government roles in 2012 by the UPA government for their alleged role in pushing the Devas-Antrix deal.

First uploaded on: 29-04-2015 at 03:34 IST
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