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Devas seeks to seize Air India US assets to enforce Antrix arbitration award

Devas seeks to seize Air India US assets to enforce Antrix arbitration award
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Last Updated: Jun 30, 2021, 08:54 AM IST
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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 assets of Air India in the United States as reparation for India’s failure to honour an $1.2-billion arbitration award won by the satellite firm in 2015. ....

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Aahna Rajan, Author at Mad In America

Aahna Rajan, Author at Mad In America
madinamerica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from madinamerica.com Daily Mail and Mail on Sunday newspapers.

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