Canada court allows Devas shareholders to continue seizure of 50% of Air India’s funds
A Canadian court has allowed Devas Multimedia shareholders to continue to seize 50 per cent of Air India’s funds that have been held by global airlines body IATA. The court also granted relief to the Airports Authority of India (AAI), freeing its funds that were seized by the Devas Multimedia shareholders.
Earlier this month, the court had ordered seizure of funds of Air India and the Airports Authority of India (AAI), which have been held by the International Air Transportation Association (IATA), in a case filed by Devas Multimedia shareholders to enforce the arbitration award regarding Antrix deal’s cancellation.
On October 27, 2020, a US court had asked Antrix Corporation, the commercial arm of the Indian Space Research Organisation (ISRO),
