FM attacks Cong for Antix deal

New Delhi (PTI): Finance Minister Nirmala Sitharaman on Tuesday accused Congress-led UPA of entering into a “fraud” and “scandalous” deal with Devas Multimedia by allocating S-band spectrum used by the defence for “pittance”.

At a press conference, she said the government is now fighting in every court to save taxpayers’ money that would otherwise go towards paying for arbitration awards that Devas has won against the cancellation of the 2005 deal. She said the Supreme Court on January 17 has comprehensively upheld liquidation of Devas Multimedia on grounds that it was incorporated with fraudulent intentions.

Her comments came as Devas shareholders pursue Indian assets abroad to recover $1.29 billion that international arbitration tribunals awarded over a cancelled satellite contract.

They have got a French court order for freezing Indian properties in Paris and are seeking Air India funds in Canada.