Canada Court Orders to Seize the Assets of Air India and AAI
The Superior Court of Quebec issued two separate decisions on November 24 and December 21, demonstrating that the IATA has confiscated assets belonging to the AAI valued at approximately $6.8 million.
Highlights:
- The exact value of the Air India assets seized is not revealed.
- The government is soon closing the deal with Tata Sons on the sales of Air India, and this litigation could prove detrimental to the agreement.
- Devas’ overseas investors have taken their case to courts in the United States, Canada, and other countries, accusing India of failing to honour arbitral rulings and attempting to seize the country’s assets abroad.
Videos
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