New Delhi (JPN/Bureau): Investigation into S-band spectrum allocation case has taken a new turn as the very credential of Devas Multimedia has come under scanner of probe agencies.

It has come to notice of the agencies that influenced by its high level connections, Antrix Corporation, which is the commercial arm of ISRO, had signed a deal with Devas. But the company did not even have its website at that time.

According to sources, business operations of Devas in America and Germany are also being probed. The company got license for overseas trade within four years from its inception.
Devas had sold 17 per cent of its shares to German Telecom Company Deutshe Telecom in August 2008 in Rs 1,865 crore.

After this, the company, within a span of around 2 years also sold its shares to an American company called Columbia Investor. However, Devas states that it had taken proper permission from Foreign Investor Board before investing into any foreign company.
Sources also say that Devas got foreign investments in a short period of time which attracted attention of government agencies. However, no action was taken in the Antrix-Devas deal.