The Central government today cancelled the controversial deal of ISRO’s commercial firm Antrix with the Bangalore based private firm Devas Multimedia for handing over the 70 Mhz of S-Band spectrum after the leading English daily ‘The Hindu’ exposed the corruption involved in the deal.

After the expose, government said that the deal was already under review and a suitable decision would be taken after a thorough examination.
The decision to scrap the deal was taken at a meeting of the Cabinet Committee on Security (CCS) which met under the chairmanship of Prime Minister Manmohan Singh. The meeting decided to accept the recommendations of the Space Commission which suggested its cancellation.  

The government decision comes in the wake of reports that the deal, which handed over the S-Band Spectrum to the firm for a paltry sum of Rs.1000 Cr, had resulted in a loss of Rs.2 lakh Cr to the state exchequer.

Meanwhile, a Devas Multimedia spokesman said in Bangalore this evening that it would take legal action against the government for unilaterally cancelling the deal.