An American court has ruled in favour of India s space agency, Antrix, in a long-running legal battle with Devas Multimedia and its foreign investors over a failed satellite deal in 2005. The Ninth Circuit Court in California overturned the confirmation of the ICC award of $1.3bn against Antrix that had been granted to Devas, declaring that the district court "erred in exercising personal jurisdiction over Antrix."
ISRO undertakes a commercial launch for Singapore financialexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from financialexpress.com Daily Mail and Mail on Sunday newspapers.
The case against Ramachandran Viswanathan stems from CBI and ED probes into a failed 2005 satellite deal between Devas and the ISRO’s commercial arm Antrix Corporation.
Indian space start-ups welcome GST exemption on satellite launches thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.