Market Intelligence
June 10, 2025 at 03:01 PM
https://thedailybrief.zerodha.com/p/a-2005-deal-could-cost-india-big
Satellite Dreams and Courtroom Wars: The Devas-Antrix Saga
There’s an apartment in the posh 16th arrondissement of Paris — a locality full of museums and foreign embassies. The €3.8 million apartment belonged to the Indian government, and was once the home of the Deputy Chief of India’s mission. But one day, in 2022, in a scene straight out of a diplomatic thriller, a French court handed investors in a Bengaluru-based start-up the right to seize the apartment. This was one of the first shots in a cascade of similar attempts over Indian property located all over the world.
Behind this case was a decade-old satellite deal that had gone spectacularly wrong.
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