Page 5 - Devas Multimedia News Today

A nonprofit organization petitioned the United States government to enact serious sanctions against 11 Indian officials for alleged human rights abuses committed against the co-founder of a satellite company who is engaged in a legal battle with an Indian state-owned business.

India’s forex reserves have been falling since October 2021. This is not a global phenomenon but is linked directly to the manner in which India has planned its forex inflows – especially foreign direct investments

Shareholders of satellite company Devas Multimedia have urged the Ninth Circuit to deny Indian state-owned space company Antrix's bid to pause their efforts to depose its representatives, calling it the rival's "latest gambit" to stay the proceedings as they try to enforce a $1.3 billion award.

A lawyer for shareholders of the satellite communications company Devas Multimedia Pvt. Ltd. said Thursday his clients "will be relentless" in enforcing arbitral awards against India, having already secured $55 million in government-controlled aviation assets.

"The amounts garnished by IATA for the period prior to date of disinvestment are yet to be released by the Court," the govt further informed the Rajya Sabha.

Air India sought dismissal of Devas' foreign investors’ demand saying it is no longer a state-owned firm after its takeover by the Tata group.

Air India has won a nod of an appeals court in Quebec to challenge a Canadian court order that allowed foreign investors in Bengaluru-headquartered Devas Multimedia to seize its funds to recover compensation for a failed 2005 satellite deal with Antrix Corporation, a commercial arm of ISRO.

(Bloomberg) -- Air India Ltd. is seeking to end a case filed by Devas Multimedia Pvt. in a U.S. court, arguing a recent change in ownership of the carrier prevents demands over recovery of arbitration awards.  Devas demands $1.

Devas shareholders are pursuing Indian assets abroad to recover the awards and have got a French court order for freezing Indian properties in Paris and got partial rights over funds maintained by India funds in Canada.

Devas shareholders are pursuing Indian assets abroad to recover the awards and have got a French court order for freezing Indian properties in Paris and got partial rights over funds maintained by India funds in Canada