A Canadian court has authorised the seizure of assets belonging to the Airport Authority of India and Air India held with the International Air Transport Association (IATA) in the Quebec province and internationally, in a key victory for the shareholders of satellite maker Devas Multimedia in its decade-long legal battle with India.
Two separate orders passed by the Superior Court of Quebec on November 24 and December 21 show that assets of the Indian airport operator worth around $6.8 million held by the IATA have been seized. The value of the confiscated Air India assets wasn’t immediately available, but representatives of the shareholders said they have seized more than $30 million in India-owned assets to date under the orders of the Canadian court.
