Indian legal experts have raised serious questions on the tenability of the interim order passed by a Quebec court for seizure of cash that the airport regulator Airports Authority of India (AAI) and national flag carrier Air India hold with the International Air Transport Association (IATA).
Already, over $30 million belonging to AAI has reportedly been seized by Devas Multimedia shareholders from the Montreal-headquartered airlines trade association.
“The amount is owed by an entity called Antrix Corp. but the court has ordered for the impounding of assets owned by Air India and AAI, which are owned by the same shareholders, i.e., the Government of India. If the assets are seized in this manner to pay off the liabilities of another…