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Devas tries to seize foreign assets of Air India Top Searches Devas tries to seize foreign assets of Air India Bloomberg / Updated: Jun 30, 2021, 08:00 IST FacebookTwitterLinkedinEMail NEW DELHI: Devas Multimedia, a Bengaluru-based company seeking over $1.2 billion it won in international arbitration from the government, has joined Cairn Energy in seeking to seize Air India’s assets abroad. Calling the flagship airline an “alter ego” of the Indian state and therefore liable for the sovereign’s debts, Devas filed a petition in New York asking Air India to pay the amount or forfeit its...

Devas seeks to seize Air India US assets to enforce Antrix arbitration award SECTIONS Last Updated: Jun 30, 2021, 08:54 AM IST Share Synopsis The litigation filed by Devas Multimedia in a US court stems from the cancellation of a satellite deal with ISRO’s Antrix Corp. in 2011 that culminated in the $1.2-billion arbitration award. Devas Multimedia is the second company after Cairn Energy to target the overseas assets of Air India in its bid to enforce an arbitration award on the government. Bengaluru:Devas Multimedia Pvt. Ltd. has filed a petition in a New York court seeking to seize the a...

Antrix-Devas deal case: Ex-ISRO chief granted bail by court Antrix-Devas deal case: Ex-ISRO chief granted bail by court During The Proceedings, The CBI Informed The Court That Two Accused Could Not Be Served Summons As They Had Settled In The US, And The Process Was Still On To Execute The Summons To Them. PTI | Updated on: 23 Dec 2017, 12:33:40 PM New Delhi: Former ISRO chairperson G Madhavan Nair was today granted bail by a Delhi court in the sensational Antrix-Devas deal case in which a loss of Rs 578 crore was caused to the exchequer. Special Judge Santosh ...

Courts in West tend to award punitive damages, which an Indian court may hold to be against public policy