Antrix-Devas scam: CBI files charge sheet against former ISRO chief, others

New Delhi, Aug. 11 : The Central Bureau of Investigation (CBI) on Thursday filed a charge sheet against former Indian Space Research Organisation (ISRO) chief Madhavan Nair in connection with the Antrix-Devas scam in the court of a special judge for CBI cases at Patiala House Courts here.

They have been accused of facilitating wrongful gain of Rs 578 crore to private multi-media company Devas, by Antrix, the commercial arm of ISRO.

Besides Nair, former Managing Director of Forge Advisors and CEO of Devas Ramachandra Vishwanathan and the then Director of Devas M.G.

Chandrasekhar have also been named in the charge sheet. The deal between Antrix and Devas was fixed in principle in January 2005, however, the then Antrix Executive Director signed it six months later, only after a U.S.

company represented by Chandrashekhar and Vishwanathan became majority stakeholders in Devas. The deal was, thus, in violation of the Shankara Committee recommendations, which said execution of any such agreement should be entered into with an Indian company alone.

The charge sheet comes a month after India lost its arbitration case in an international tribunal over Antrix scrapping a deal with Devas.

India is liable to pay compensation, which could run into millions of dollars..

Source: ANI