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  5. 1. Is Devas a “fake”...

1. Is Devas a “fake” company without employees or investors?

Devas Multimedia Pvt Ltd was conceived in the early 2000s by global pioneers in the fields of satellite communications.  Devas built a team of unrivalled expertise and industry experience, joined by investors with a global track record in the satellite communications industry. From the date of execution of the Devas Agreement in January 2005 and for almost five years thereafter, Antrix and Devas worked intensively together to develop a first-of-its-kind integrated satellite system in India. During this time, Devas scaled up – on the technical side, and with world-leading investors and pioneers from the communications and satellite community. Successful experimental trials of the Devas system were completed in 2009.

In 2008, Deutsche Telekom obtained a 17 per cent stake in Devas for about US$75 million. Columbia Capital and Telecom Ventures are the other international investors. By 2011, all three companies had invested over US$130 million in Devas.  The board of directors includes Kiran Karnik, a former President of Nasscom; Larry Babbio, a former vice-chairman of Verizon, and Gary Parsons, a former Chairman of SiriusXM Satellite Radio.(1)  Its president and CEO is Ramachandran Viswanathan, an industry leader with decades of satellite telecommunications experience as a former senior executive at Worldspace and Cidera. 

By 2011, Devas had employees based in both India and the United States with over 450 combined years of experience in the satellite industry that had launched or operated over 60 satellite systems.(2)

  1. https://www.thehindu.com/news/national/What-is-Devas-Multimedia/article15130740.ece
  2. Affidavit from MG Chandrasekhar in Objection on behalf of Respondent No. 1.  Matter Between Antrix (Petitioner) and Devas (Respondent).  Winding Up Proceedings of Devas Multimedia.  National Company Law Tribunal (NCLT), Bengaluru Bench.  March 15, 2021.