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US court orders Isro's Antrix to pay $1.2 bn to Devas as compensation
A US court has asked Antrix Corporation, the commercial arm of ISRO, to pay compensation of USD 1.2 billion to a Bengaluru-based startup, Devas Multimedia, for cancelling a satellite deal in 2005. As per the agreement in January 2005, Antrix agreed to build, launch and operate two satellites and to make available 70 MHz of S-band spectrum to Devas, which the latter planned to use to offer hybrid satellite and terrestrial communication services throughout India. Read More...
Apple turns the tide in India with record
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