Deutsche Telekom seizes $12.7-mn AAI dues on Swiss court order
Over $12.7 million belonging to the Airport Authority of India (AAI) have been seized again – this time on orders of a court in Switzerland.
A Swiss court has passed an order to seize the amount held by the International Air Transport Association on behalf of AAI on an application by Deutsche Telekom, a minority shareholder in Devas Multimedia.
Three Mauritius-based shareholders of Devas Multimedia had secured the seizure of AAI and Air India’s dues from a Canadian court in November and December. Subsequently in January, the Superior Court of Quebec in Canada set aside the seizure of AAI dues and limited the seizure of Air India dues to 50 per cent.
