Shock: 50 crore assets of Air India and IATA seized in Canada, know what is the reason here

Posted on 4th Jan 2022 04:45 pm by rohit kumar

A Canadian court has given a strong blow to India. The court ordered the confiscation of the assets of Indian airlines Air India and Airport Authority of India (IATA) in the country's Quebec province. Under this, assets worth Rs 50 crore have been confiscated. According to a report, this is being considered as a big victory for the Davas Multimedia Company in the 10-year battle.

 

 

According to the report of an English newspaper, the Superior Court of Quebec had given two orders in this regard on 24 November and 21 December. These included orders for confiscation of the assets of AAI and Air India held with IATA so that recovery could be made in favor of Devas. Following these orders, AAI's assets worth $6.8 million (about Rs 50 crore) have been confiscated in Quebec. However, the exact figure of how many properties of Air India have been seized, its value has not been revealed yet. It is being told that assets worth more than $ 30 million of Air India have been confiscated. These assets were held by the International Air Transport Association in the Canadian province of Quebec.

 

 

The case pertains to a satellite deal between ISRO's Antrix Corporation and Dewas, which was scrapped in 2011. In this case, the Court of International Chamber of Commerce ruled in favor of Devas and ordered the Indian government to pay $ 1.3 billion. Based on this decision, foreign shareholders of Davas had gone to court against the Indian government in many countries including Canada and America for recovery, on which this decision has come in their favor.

Other news

Money Laundering Act: All rights of ED including arrest, raid, and summons are right, Supreme Court's big decision

The Supreme Court has given a big decision on the Prevention of Money Laundering Act (PMLA). In a

Kalki 2898 AD: 'The story will start from the Mahabharata period...', Nag Ashwin gives a big update on Prabha s's 'Kalki 2898 AD'

South superstar Prabhas's film 'Kalki 2898 AD' is one of the most awaited films of this year. Tel

India's first real-time gold ATM launched in Hyderabad: 5 kg gold holding capacity; Gold coins ranging from 0.5 to 100 grams will come out

India's first real-time gold ATM has been launched in Hyderabad. This GoldSikka ATM dispenses gol

Attention 18 to 59 years old: Get a booster dose of corona for free, understand where and how; If you are late you will not get free service

People in the age group of 18 to 59 years can get a booster dose of corona for free. The country

Shraddha Murder Case Update: Aftab has no regrets, even the Mumbai Police were not suspicious in the initial inquiry

Delhi Police is trying to find the concrete evidence against Aftab Amin Poonawalla, accused of br

Property worth 200 crores of Jamaat-e-Islam sealed in Kashmir: Organization gives funding to separatists in the valley; Lashkar-e-Taiba commander's property also attached

The State Investigation Agency (SIA) on Sunday sealed properties worth Rs 100 crore of Jamaat-e-I

Mohammed Shami will get a gift for his excellent performance in the World Cup, a mini stadium and gym will be built in the fast bowler's village.

Indian team's fast bowler Mohammed Shami has performed brilliantly so far in the World Cup 2023.

Uniform Civil Code: PM Modi raised the issue of UCC, then the opposition became aggressive, DMK said – first apply to Hindus

The Law Commission has sought views from common people and religious political organizations rega

Kabul airport attack: US disclosure - IS terrorist alone killed 13 soldiers, 170 Afghans in suicide blast

During the withdrawal of American troops from Afghanistan, the US Defense Ministry Pentagon has m

Iran's attack on Kurdish areas of Iraq amidst fierce movement against Hijab, targeted with missiles and drones

In Iran, the protests continued after the death of Kurdish girl Mahsa Amini in police custody for