Devas seizes $6.8 million worth of AAI property in Canada
The Hindu
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 (AAI’s) property following permission from a Canadian court.
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.
A Quebec court held that Airport Authority of India (AAI) is India, in so far as it is an organ of the State of India inseparable from India or is the alter ego of India. As a result, it found the awards of the India-Mauritius Bilateral Investment Treaty enforceable in Canada.
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