1. Home
  2. /
  3. FAQs
  4. /
  5. 4. Did Devas abide by...

4. Did Devas abide by the agreement it signed?

Devas met all of its contractual obligations and reached all of its key milestones under the Agreement until it was unlawfully terminated by the Government of India. 

It had satisfied all of its financial obligations to Antrix, secured over $130 million from investors, including a global leader in telecommunications, Deutsche Telekom, and two leading technology investors, Columbia Capital and Telecom Ventures.(1)

Devas attended satellite design reviews, secured licenses to deliver internet services throughout India and conducted experimental trials.(2) Devas had met all its financial obligations and technical and strategic milestones and had duly reported its progress to Antrix and ISRO.(3)

  1. UNCITRAL Award on Quantum to Mauritian shareholders of Devas, Paragraph 204.
  2. UNCITRAL Award on Jurisdiction and Merits to Mauritian shareholders of Devas, Paragraph 109.
  3. UNCITRAL Award on Jurisdiction and Merits to Mauritian shareholders of Devas, Paragraph 111.