FM Nirmala Sitharaman Says Antrix-Devas Deal is a Fraud by Congress, of Congress, for Congress

“This kind of selling of primary endowments like wavelengths, satellites or spectrum band, giving it away to private parties and making money from private parties & making a deal out if it marks the feature of the Congress govts,” said FM

Sitharaman said that she wanted to to draw everyone’s attention on the SC order on Antrix Devas. FM said that blatant selling of India’s resources during congress government, Union cabinet was not even aware of the deal.

UPA govt never appointed an arbitrator in Antrix Devas case: FM

Master game players in this [Devas fraud] are the Congress; with this SC order [on Antrix-Devas issue] we’re able to see that. Now it should be Congress’ turn to answer how Cabinet was kept in dark. They should have no moral right to speak about crony capitalism: FM

“If the seeds of the commercial relationship between Antrix [commercial arm of the Indian Space Research Organisation (ISRO)] and Devas were a product of fraud perpetrated by Devas, every part of the plant that grew out of those seeds, such as the agreement, the disputes, arbitral awards, etc., are all infected with the poison of fraud. A product of fraud is in conflict with the public policy of any country, including India. The basic notions of morality and justice are always in conflict with fraud,” Justice V. Ramasubramanian said.

A bench comprising Justice Hemant Gupta and Justice V Ramasubramanian dismissed the appeal filed by Devas Multimedia Pvt Ltd.

In 2021, the Bengaluru bench of the NCLT ordered the winding up of Devas, at the instance of Antrix. It also appointed a provisional liquidator, saying Devas was incorporated with a fraudulent motive to collude with the then officials of Antrix Corporation.

A Supreme-Court has junked the Devas’ case against the NCLAT. The bench also upheld the tribunal’s order from September last year. This becomes the first case of winding up on company on grounds of fraud

Antrix Devas deal was signed during UPA, it was a fraud against India. Sitting UPA minister was arrested in the scandal related to the deal: FM

“Supreme Court has upheld the NCLAT, NCLT order to liquidate Devas. The Supreme Court order is very comprehensive,” said finance minister on Tuesday.

The Supreme Court on January 17 dismissed an appeal by Devas Multimedia Pvt. Ltd and parent Devas Employees Mauritius Pvt. Ltd against the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) orders. In January 2021, an NCLT bench had filed a petition by Antrix Corp. Ltd, the commercial arm of Indian Space Research Organization’s (ISRO’s), urging the tribunal to allow the winding up of Devas Multimedia for fraud. Following this, the NCLAT also upheld the order of the NCLT.

Finance minister Nirmala Sitharaman started addressing media on Antrix Devas issue at 4.30 pm on Tuesday.