Awaiting spectrum from ISRO, have govt nod for business: Devas

Written by: Pti
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New Delhi, Feb 10 (PTI) Devas Multimedia, whose deal withAntrix for S-band spectrum has triggered a storm, today saidit had all "appropriate approvals" from the government for itsbusiness.

Devas President and CEO Ramachandran Viswanathan said itstill has the legally binding agreement with AntrixCorporation and was awaiting delivery of the contracted spacesegment capacity from ISRO.

"Devas has fulfilled all of its obligations in respect ofthe agreement over the past six years and now awaits thedelivery of the contracted space segment capacity, which ismore than two years delayed per the agreement," he said in astatement.

He said Devas had proceeded with the project afterrequired consents and approvals were obtained within theGovernment, culminating with Space Commission and UnionCabinet, and the same were confirmed by Antrix in February2006.

Ramanathan said Devas has secured appropriate approvalsfrom the government related to conducting its business.

"All foreign direct investment into Devas have also beenwith due FIPB approvals and in full compliance with governmentregulations," he said.

Devas has developed technologies that are essential forthe delivery of advanced services, including societal,strategic and commercial applications, through ISRO''s GSAT 6and 6A satellites, he said.

Ramanathan said the association of former ISRO officialswith Devas was in full compliance with the government rules.

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