Canada court orders seizure of Air India, AAI dues on Devas investors' plea

Devas shareholders have initiated action against govt to enforce $111 million arbitration award

A court in Canada has ordered seizure of amounts collected by the International Air Transport Association (IATA) on behalf of Air India and the Airport Authority of India (AAI).

Separate orders were passed on November 24 and December 21 on pleas by shareholders of Devas Multimedia Private Limited, who have filed multiple petitions to enforce arbitration awards against the Indian government.

Around $6.8 million belonging to the Airport Authority of India has been seized as a consequence of the order. The exact amount due to Air India that is held up due to the order is not known.

The development