No. Antrix/ISRO breached the Agreement on multiple occasions. The Agreement called for a June 2009 deadline for Antrix to launch the two satellites, PS1 and PS2, which Antrix failed to meet.(1) Devas made every effort to get these satellites launched.(2)
For example, the contract clearly stated in Exhibit B, paragraphs 2.1 and 2.2, that failure to deliver PS1 within four years (June 2010) after the payment by Devas of the first installment of its upfront capacity reservation fee would be a material breach of the agreement; that date passed in June 2010 without any launch.