US court asks ISRO to pay $1.2bn as compensation to Bengaluru firm | Editorji
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US court asks ISRO to pay $1.2bn as compensation to Bengaluru firm

Oct 30, 2020 18:08 IST

A US court has asked the commercial arm of ISRO, to pay compensation of $1.2 billion to a Bengaluru-based startup for cancelling a satellite deal in 2005. 

As per the agreement done in January 2005, ISRO's Antrix agreed to build, launch and operate two satellites and to make available 70 MHz of S-band spectrum to Devas Multimedia. 

The agreement was however terminated by Antrix in February 2011 and over the next several years, Devas approached various legal avenues in India. The start-up then filed the case in a US District Court, which has now ordered ISRO to pay compensation. 

National