Property worth crores of 'Air India' seized after court order

New Delhi: A Canadian court has ordered the confiscation of properties of Air India and Airports Authority of India (AAI) in Quebec province. Property worth about Rs 50 crore has been seized under this scheme. These properties have been seized for recovery in devas case. The Devas Multimedia Company case had been going on in court for the last ten years.

According to media reports, the Quebec court had delivered two verdicts in the case on November 24 and December 21. These include dispossession of properties of AAI and Air India to make recovery in favour of Devas Multimedia. After which properties worth about $6.8 million (about Rs 50 crore) of AAI have been seized in Quebec. However, the exact figure of how many properties of Air India have been seized is yet to be ascertained. But more than $30 million worth of Properties of Air India is said to have been seized, which were held with the International Air Transport Association (IATA) in Quebec province.

State that the case pertains to a satellite deal between Antrix Corporation of ISRO and Devas, which was cancelled in 2011. The international chamber of commerce court had ruled in favour of Devas in the case. Under the order, the Government of India was asked to pay $1.3 billion. Devas' foreign shareholders had approached courts against the Indian government in several countries, including Canada and the US, for recovery based on the decision. The decision has since come in their favour.

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