Devas Multimedia, a Bengaluru-based startup, will get US$1.2 billion in compensation as a federal court in the United States has asked Antrix Corporation, the commercial arm of ISRO, to pay Devas Multimedia the compensation of this amount for canceling a January 2005 deal to build and launch two satellites to provide multimedia services via the space band spectrum.

Incorporated in 2004, by a few former ISRO officials and US businessmen, Devas Multimedia is involved in motion picture, radio, television and other entertainment activities, according to Registrar of Companies (RoC), Bangalore.

In an agreement dated 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.

Later in February 2011 the agreement was terminated by Antrix. Devas then approached various legal avenues in India over several years after Antrix cancelled the deal. This included the Supreme Court, which directed for a tribunal. In his order dated October 27, Judge Thomas S Zilly, US District Judge, Western District of Washington, Seattle, ruled that Antrix Corporation pay a compensation of USD 562.5 million to Devas Multimedia Corporation and the related interest rate amounting to a total of USD 1.2 billion.

The US federal court for the Western District of Washington on Tuesday confirmed an arbitration award made by the International Court of Commerce on September 14, 2015, in favor of Devas Multimedia -- on account of the government cancelling the 2005 satellite deal in February 2011 by citing the need for usage of the S-band spectrum for security communications.

The agreement was terminated by Antrix in February 2011. Over the next several years, Devas approached various legal avenues in India. This included the Supreme Court, which directed for a tribunal. In his order dated October 27, Judge Thomas S Zilly, US District Judge, Western District of Washington, Seattle, ruled that Antrix Corporation pay a compensation of USD 562.5 million to Devas Multimedia Corporation and the related interest rate amounting to a total of USD 1.2 billion.

According to the RoC, Bengaluru, Devas Multimedia has seven directors of Devas Multimedia Private Limited are Ramachandran Viswanathan, Arun Kumar Gupta, Lawrence Thomas Babbio Junior, Rajendra Singh, Chandrasekhar Gangarudraiah Muthugadahal, Brijendra Kumar Syngal, Gary Michael Parsons.

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