Antrix award: AAI to take legal action over Devas Multimedia seizing assets abroad
The Airports Authority of India (AAI) said on Tuesday that it would defend itself legally after a Canadian court recently ordered that Devas Multimedia’s shareholders could seize its assets abroad as damages for India’s failure to honour several arbitral awards won by the satellite firm.
Shareholders of Devas Multimedia have said that they have been able to seize assets worth $30 million till date as part of the enforcement strategy, after the Superior Court of Quebec granted them the right to legally seize property belonging to AAI held by the International Air Transport Association (IATA) in Montreal.
