Foreign investors in Devas Multimedia set sights on Air India assets in US, cite Canada court order
A January 8 order of a Superior Court in the Quebec region of Canada – identifying India’s public aircraft carrier Air India as an alter ego of the government of India – has been cited by investors in the startup firm Devas Multimedia to seek seizures of Air India assets in the United States to recover $111 million compensation over a failed 2005 deal with the Indian Space Research Organisation’s (ISRO) commercial arm Antrix Corporation.
In a January 13 letter to the judge of a US federal court for the southern district of New York, on behalf of three foreign investors in Devas Multimedia – CC/Devas Mauritius,
