Canada court orders seizure of Air India assets

Tuesday, Jan 04, 2022 0

A court in Canada ordered the seizure of cash destined for Air India and the Airport Authority of India.

Plaintiff Devas Multimedia sued the airline as a state-owned enterprise with assets overseas to recover a settlement already won against the Indian government.

The money is collected by the International Air Transport Association (IATA) on behalf of Air India and the Airport Authority of India.

Devas won separate orders in November and December to force the Indian government to pay debts owed to it.

The Quebec Superior Court approved an order to seize assets .

"We will pursue the Indian government in courts worldwide to ensure the debts owed to Devas are satisfied. Our action in Canada has resulted in millions of dollars garnished by Devas shareholders, and represents the first fruits of a globally-focused effort to be paid," Matthew D McGill, lead counsel, said.

IATA collects payments for the airline through its established billing and settlement scheme.

About $6.8 million owed to the Airport Authority of India has been seized as well as an undisclosed amount owed to Air India.

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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.

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