A law court in Montreal district of Canada has allowed three Mauritius-based investors of Devas Multimedia Pvt Ltd, a joint venture between the Indian government-owned Antrix Corporation and Devas Multimedia Ltd, to seize funds deposited by Airport Authority of India (AAI) and Air India with International Air Transport Association (IATA). According to media reports, the court on 21 December 2021 had issued the order for ordering preliminary attachment of $6.8 million of the AAI funds deposited as air service fees with the Montreal-based IATA.”
The three investors—Devas (Mauritius) Ltd, Telcom Devas Mauritius Ltd and Devas Employees Mauritius Pvt. Ltd—have won international arbitration awards in…