PMSCY:Prime Minister Spectrum Corruption Yogana
Today the Government of India has launched a new scheme for hungry people called “Prime Minister Spectrum Corruption Yogana”(PMSCY). Shocking, but it`s true. But atleast the Prime Minister Manmohan Singh should have informed the common people of India.But according to our Government this scheme is exclusively for hungry Indians, and those hungry Indians are our Industrialists,politicians & bureaucrats. The only condition is that persons should have corruption in his blood.Ironically media has to inform to the honest people of India.
The Comptroller and Auditor General’s (CAG) estimates of a Rs.2 lakh crore loss to the exchequer due to an agreement between Indian Space Research Organisation’s (ISRO) commercial wing Antrix Corporation and a private company Devas Multimeda in 28 January,2005 for 20 Years.Devas Multimedia will pay $40 million as pre-launch capacity reservation and $250 million for satellite capacity lease payments.
Antrix Corporation Limited, which is commercial arm of ISRO, signed an agreement with Devas Multimedia Private Limited for launching two satellites and added that the managing director of the private entity was a former scientific secretary of ISRO.The people representing the two sides – KR Sridhara Murthi, Executive Director, Antrix and SR Kururaj on behalf of Devas. The unbelieveable sweetness of the deal is Antrix will be responsible for obtaining all necessary government approvals, frequency clearance and funding for satellite.Not just that, Antrix will lease to Devas Additional Satellite capacity above and beyond PS2 satellite, and Antrix takes all the risk, insuring PS1 satellite and& also provide re-launch vehicle service for the PS1.
BSNL & MTNL had been allotted 20 Mhz of the unique spectrum for Rs.12,487 crore but Devas Multimedia had only been charged Rs.1,000 crore for 70 Mhz of this spectrum.The commercial use by the private operator is going to start in mid-2011. Various process have been violated.Under the deal, Devas Multimedia is to get the broadband spectrum in the 2500 Mhz band. The report said that in 2010, the union government got nearly Rs.67,719 crore from the auction of just 15 MHz of similar airwaves for 3G mobile services.
By comparison, the presumptive loss incurred in the allocation of 2G spectrum by the DoT, as estimated by the CAG, is Rs 1.76 lakh crore.
The frequency, also known as 2.5 Ghz band, is globally used for providing mobile broadband services using fourth generation technologies such as WiMax and Long Term Evolution.According to the contract with Devas, Antrix would have earned $11 million a year per satellite for 12 years.
The internal audit of the Department of Space, also shared with the PMO, raised the very same concerns in 2010 that why was 70 Mhz of spectrum allocated to Devas Multimedia without a tender and that a regulatory framework for S-band services wasn’t put in place.Then ISRO Chairman Dr K Radhakrishnan did write to the PM’s Principal Secretary TKA Nair on December 2, 2010 on the Devas deal, reminding the PMO of the Law Secretary’s objections to the deal.
M G Chandrasekhar, chairman of Devas Multimedia,founded in 2004,valuing the company at $443 million,has also worked in the ISRO as a scientific secretary and D Venugopal who also worked in ISRO are on the Devas board. Fingers are also being pointed at G Madhavan Nair who served as the Chairman of the scientific body from 2003 to 2009. He was in office when the deal was signed with ISRO. Also, he is the chairman of the Governing body of Antrix Corporation in Bangalore.
M.G. Chandrasekhar was earlier Managing Director of the satellite radio company WorldSpace, which shut shop in India last year. In 2008, Deutsche Telekom picked up 17 per cent stake in Devas for about $75 million. Columbia Capital and Telcom Ventures are the other international investors. The board of directors includes Kiran Karnik, a former President of Nasscom; Larry Babio, a former vice-chairman of Verizon, and Gary Parsons, a former Chairman of XM Sirius Satellite.It claims to have developed its own portable device, which acts like a WiFi router. The company is already in talks with the Indian Railways for a host of services such as real-time location spotting and collision avoidance. It claims to have done successful trials in 2009 and 2010.The company plans to invest $500 million to $750 million once the service is launched.
Devas Multimedia has an Internet Service Provider licence.Shockingly it has clearance from the Foreign Investment Promotion Board (FIPB) for 74 per cent foreign direct investment. It has got trial spectrum from the DoT and plans to apply for a full licence. But it may have to acquire additional licences such as that for Global Mobile Personal Communications by Satellite (GMPCS) in order to offer satellite-based services. It is also not clear if Devas can use terrestrial spectrum without making additional payments.
Present Minister of Telecom & Minister of Science and Techenology kapil Sibal was a part of the space commission that cleared state run Antrix Corporation S-band spectrum deal with Devas Multimedia in 2005.The cabinet secretary, then national security adviser (NSA) M K Narayanan (now West Bengal governor), and the then ISRO chairman G Madhavan Nair were the other members of the commission.
Addressing media persons here, Secretary (Space) K. Radhakrishnan and Planning Commission member K. Kasturirangan said that a decision had been taken to annul the agreement.
Devas offloaded its 36,749 shares worth US $75 million to Singapore-based Deutsche Telekom Asia Pte Ltd, it also took other investors, many from the tax haven Mauritius that launders the Indians’ black money received through hawala and plows it back in the name of the companies that can be easily registered there.Two mauritius-based companies — CC/Devas (Mauritius) Ltd and Telecom Devas Mauritius Ltd were issued 15,730 convertible cumulative preferential shares each on March 16, 2006 at a huge premium of Rs 21,445.82 for the shares with equity value of Rs 10 each, only few months after the company got the scarce spectrum. These two Mauritius companies were further allotted 15,619 shares each in three tranches.
The balance sheet of Devas Multimedia shows that its capital shot up eight times in only three years from Rs 67.5 crores on March 31, 2007 to Rs 578.82 crores in 2010. In fact, the capital investment went up by Rs 123 crores in just one year between 2009 and 2010.
Bharat Sanchar Nigam Limited (BSNL) has come under government scanner for having allegedly handed out wireless broadband acess to franchisees for free.BSNL reportedly agreed to a revenue-share moel for franchising its broadband spectrum even after it has paid 80 billion rupees ($1.77 billion).
ISRO chief said that the process of review of the contract was initiated in December 8, 2009.But will PM office scrap this deal.Now is clear that why Government is not allowed private FM Radio & now they are going to allow.
But the shocking part is that the MINISTRY OF SPACE is under Prime Minister Manmohan Singh.This has opened a route to black money from foreign countries. This is also a great threat to our national security.Maharashtra Chief Minister Prithviraj Chavan who was the then union minister dealing with the space department.
How many “SPECTRUM RAJA” we have to tolerate? Now this is “KING OF ALL SPECTRUM”. Probably MAHATAMA GANDHI will say— “HEY RAM! WHY I FOUGHT FOR COUNTRY?”.