Spectrum deal to be quashed soon: ISRO

The Indian space organization on Tuesday said it will soon cancel its agreement with a private firm, that sparked off a row over unbridled use of a scarce S-Band spectrum by the latter and dragged the Prime Minister’s Office.

The agreement between the Indian Space Research Organisation (ISRO)’s commercial arm Antrix Corporation and private firm Devas that purportedly allowed unrestrained use of S-Band spectrum is already under scrutiny by the government?s auditor.

Under attack for the alleged massive loss of revenue, the Prime Minister?s Office (PMO) on Tuesday clarified that no decision to allocate space segment using the scarce spectrum has been taken.
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?Hence, the question of revenue loss does not arise and any such reports are without basis in fact,? it added.
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ISRO chief K Radhakrishnan on Tuesday said that six years ago Devas had agreed to lease transponders on two satellites built by Antrix and the deal seemed to sweeten the proposition of a private firm entering new and untested project