Country's apex space policy body today set in motion a process to restructure Antrix Corporation, ISRO's commercial arm. This comes in the backdrop of a controversial two-satellite deal it had struck with a private firm. The Space Commission, at a meeting in New Delhi formed a search committee to identify a Chairman-cum-Managing Director for Antrix.Currently, K Radhakrishnan who is the secretary, Department of Space is also the Chairman of Space Commission, ISRO and Antrix Corporation. After the new appointment, Radhkrishnan would no longer hold the top post in Antrix. AIR correspondent reports that Antrix would continue to have a technocrat as its head but for the first time, since its creation in 1992, the person would not be the ISRO chief. Radhakrishnan said the decision to have a CMD for Antrix was taken considering its business expansion and a newly conferred mini-ratna status. A three-member search committee is expected to suggest three names for the newly created post.The Space Commission was also apprised of the action taken in connection with termination of Antrix's two satellite deal with Devas Multimedia which media reports claimed could have caused loss of two lakh crore rupees to the exchequer.Radhakrishnan said ISRO had circulated a detailed note on the deal with Devas which was under consideration of the Cabinet Committee on Security.Radhakrishnan said the contract needed to be annulled given the requirement of the S-band spectrum for strategic purposes.