The accused officials “thus caused wrongful gain of Rs.578 crore” to the private firm and its owners, CBI alleged. Money had been transferred to the US company from the accounts of a Bangalore-based private company, the CBI alleged. The Antrix-Devas deal had seen early exit of Nair as ISRO boss as he was the chairman of the governing council of Antrix when the deal was finalised. The agency said a deal between Antrix and Devas was fixed in principle in January 2005 for lease of S-Band transponders. Besides Nair, others named in the charge sheet include the then executive director of Antrix K.R.

Source: Mint August 11, 2016 12:19 UTC