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

IND vs ENG: Virat Kohli dropped the catch, former teammate said – don't take so much pressure

Virat Kohli brought the culture of fitness to Team India, the responsibility of improving the fie

Google: Google violating CCI order, charging more commission from app developers

The Alliance of Digital India Foundation (ADIF) on Thursday said that the American company Google

AUS vs PAK: Pat Cummins gave a funny answer to Hafeez's statement 'Pakistan played better than Australia', said a big thing

Australia defeated Pakistan in the second Test and took a 2-0 lead in the three-match Test series

Nimrat kaur spilled pain: The actress had increased her weight by 15 kg for her role in 'Tenth', said - this increased weight was mentally and physically very painful

Getting into a character is a daunting task and at times actors have to take extreme steps to und

Neeraj Chopra: 'He is also our boy', Neeraj's mother's statement on Pakistani player winning gold, now here

Neeraj Chopra is being praised all around after winning the silver medal in the Paris Olympics. A

Delhi New CM: Who will become the new Chief Minister of Delhi, regional equation or will a new face be approved?

After waving the flag in the Delhi Assembly elections, now the exercise of selecting a new Chief

Corona crisis on IPL: After physio, a player from Delhi also got corona infected; Full team quarantine, next match against PBKS on 20

In the IPL 2022 season, once again the threat of corona has started looming. After the physio of

ENG vs NZ: James Anderson created history as soon as Tom Latham was clean bowled, became the first Test fast bowler in the world to do so

Fast bowler James Anderson has created history in the second Test match of the three-match series

Center vs Kejriwal: Whose right on transfer-posting of officers? Supreme Court hearing on November 9

The Supreme Court has fixed the date of hearing on the petition of the Kejriwal government seekin

Gyanvapi Masjid Controversy: After all, how can a mosque be named Gyanvapi?

The observations made by the Supreme Court in the Gyanvapi case have increased the chances of the