CAG slams Nair, govt in Devas deal
16 May 2012 12:35 PM IST
The government auditor has slammed the Department of Space for sealing the Antrix-Devas deal, saying it was ‘a classic case of public investment for private profit’. The Comptroller and Auditor General (CAG), in a report tabled in Parliament, took the department to task for failing to explore the revenue potential of 70 MHz of S-Band spectrum.
‘The Antrix-Devas deal is a classic instance of failure of the governance structure in which selected individuals, some serving and some retired public servants, were able to successfully propel the agenda of a private entity by arrogating unto themselves, powers which they were not legitimately authorised to exercise,’ said the CAG.
The deal between ISRO and Devas was scrapped in 2011, when reports surfaced that ISRO sold spectrum worth Rs 2 lakh crore for Rs 1,000 crore.
‘The Antrix-Devas deal is a classic instance of failure of the governance structure in which selected individuals, some serving and some retired public servants, were able to successfully propel the agenda of a private entity by arrogating unto themselves, powers which they were not legitimately authorised to exercise,’ said the CAG.
The deal between ISRO and Devas was scrapped in 2011, when reports surfaced that ISRO sold spectrum worth Rs 2 lakh crore for Rs 1,000 crore.
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