Devas

The government will use the Supreme Court order calling the 2005 deal between ISRO's commercial arm Antrix and privately-owned Devas Multimedia a fraud, to counter seizure of its properties, Finance Minister Nirmala Sitharaman said on…

<!-- -->Nirmala Sitharaman said that NDA government had fought in every court over Antrix-Devas dealGovernment on Tuesday said that it will oppose the international award given to Devas Multimedia Limited, after the Supreme Court on…

Union finance minister Nirmala Sitharaman on Tuesday said the Supreme Court order upholding liquidation of the Devas Multimedia is a comprehensive one, while accusing the previous Congress-led UPA government of entering into a "fraud" and…

The Supreme Court on Monday cleared the decks for winding up of Devas Multimedia at the instance of ISRO’s commercial arm Antrix, as it affirmed the findings of the National Company Law Appellate Tribunal (NCLAT) that Devas was set up for…

In partial relief for India, a court in Canada has said that investors of Devas Multimedia can seize only 50% of Air India’s (AI) assets held by the International Air Transport Association (IATA). It has also quashed the order permitting…

The Quebec Superior Court has reserved orders on a plea by the Airports Authority of India (AAI) and Air India (AI) to quash a the court’s order allowing Devas shareholders’ seizure of $30 million worth of their assets in the country.…

Why has a Canadian court ordered the seizure of more than $30 million worth of AAI’s assets? How can a foreign power issue such an order? The story so far: In 2005, Devas Multimedia signed an agreement with Antrix —a commercial arm of…

The shareholders had sought the right to seize all sum or moveable property of India and/or AAI being held by the International Air Transport Association Devas shareholders have seized $6.8 million worth of Airport Authority of India’s…

Lawyers write to U.S. Court claiming Air India will remain India’s ‘alter ego’ even after sale to Tatas Shareholders in Devas have written to a U.S. District Court asserting that Air India’s sale to the Tatas did not impact its petition…

Devas Multimedia’s shareholders have been allowed to track down assets of the Indian space agency’s commercial arm, Antrix, and to enforce a $1.3 billion award that the beleaguered satellite maker had won via arbitration in 2015. The US…