Finance Minister targeted Congress : Nirmala Sitharaman said - Dewas was a deal of multimedia fraud Finance Minister Nirmala Sitharaman held a press conference today. He directly targeted Congress. Said that the deal of Dewas Multimedia was a fraud. Resources were only misused during Congress. In fact, the Supreme Court upheld the decision of the National Company Law Appellate Tribunal (NCLAT) in the case of Dewas Multimedia.
After this, today the Finance Minister held a press conference to make a statement on this. He said that the then Telecom Minister Kapil Sibal had held a press conference, but he did not even mention the cabinet note in this matter. The Finance Minister said that I am talking about the Dewas-Antrix issue. The Supreme Court has given a comprehensive order on this.
The deal was cancelled in 2011 by the United Progressive Alliance government (UPA). The NCLAT had asked to shut down Dewas Multimedia, which was challenged in the Supreme Court. In the case of the same challenge, the court upheld the decision of NCLAT.
Nirmala Sitharaman said that selling such wavelength, satellite or spectrum bands, raising funds by selling them to private companies has been the specialty of Congress. In 2005, this deal was done between Antrix and Dewas, which was a fraud with the people of the country. He accused the Congress-led UPA government of selling the S-band spectrum by misusing power.
According to him, such as used for national securities. Nirmala Sitharaman said that the Supreme Court order shows how this government was involved in wrongdoings. The Antrix and Dewas deal was against national security. Now Congress should tell how it committed such fraud with the people of the country. Finance Minister Nirmala Sitharaman says that the government is fighting in every court so that Dewas cannot escape from Antrix deal fraud.
We are fighting to save taxpayers money that would have gone into this fraudulent Antrix-Devas deal. Arbitration tribunals have paid more than $1.2 billion in costs and interest on the pleas of Devas shareholders against the cancellation of the Antrix deal, he said.
In 2005, a deal was signed between the Indian Space Research Organization (ISRO) and Dewas Multimedia. In this, 2 satellites were to be launched by ISRO for Devas Multimedia. These satellites were for the telecom sector. These were going to be launched at a very low frequency, which required the company to install very few towers.
Till that time ISRO was directly under the Prime Minister's Office. From 2005 to 2010, a lot of questions were raised and there was a ruckus. After this, the deal was cancelled. Dewas had sought heavy compensation on this basis, which was challenged in the NCLAT.