Who is Ramachandran Vishwanathan: Who is Ramachandran Vishwanathan? Bengaluru court declared economic fugitive - Newztezz Online

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Monday, June 12, 2023

Who is Ramachandran Vishwanathan: Who is Ramachandran Vishwanathan? Bengaluru court declared economic fugitive

The CEO of Devas Multimedia has been declared an economic fugitive by the Bangalore court. He has been declared a fugitive in the Rs 10,000 crore scam.

Ramachandran Viswanathan, CEO of Devas Multimedia, has been declared an economic fugitive by the Bangalore court. The court declared him an absconder in the 2005 Devas Antrix scam case. Ramachandran Vishwanathan was involved in the scam of 10 thousand crores in 2005. In this regard, ED had also declared him a fugitive.

This is the whole matter

In the year 2004, Ramachandran Vishwanathan started a company named 'Devas Multimedia Private Limited' in Bangalore to provide multimedia services. Just a year after the company was launched, Devas struck a deal with Antrix Corporation. As per the deal, Antrix was made two satellites – GSAT 6 and 6A. Devas was to use S-band transponders of communication satellites to provide multimedia services to Indian Mobile.

According to media reports, this deal got the support of many big investors including Germany's Deutsche Telecom (DT). But later the Antrix-Devas deal came under scrutiny due to lapses and allegations of corruption. Then after this, the troubles of the company and its CEO kept on increasing.

This is the allegation against Vishwanathan

At that time, Devas was accused of having knowledge about the commercialization of S-band spectrum. The company also knew that it was bought from a Bengaluru based startup at a very low price. At the same time, the 2G spectrum scam also came to the fore, after which the UPA government scrapped the deal itself. In this case, the CBI has also registered an FIR against several officials of Antrix.

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