French Court Orders Freezing Of Indian Property On Devas Plea swarajyamag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swarajyamag.com Daily Mail and Mail on Sunday newspapers.
A French court has ordered the freezing of Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a $1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy. The court allowed Devas shareholders to register a "Hypotheque Judiciaire" or a judicial mortgage on a Paris apartment in the posh 16th
The urgent hearing comes after a superior court in Canada authorised the seizure of assets belonging to the Airport Authority of India and Air India held with the International Air Transport Association (IATA) in the Quebec province.
US court refuses to stay suit in $1 2 billion Devas arbitration award indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Devas investors can join effort to enforce arbitral award : UK Judge
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Judge David Waksman of the High Court of Justice on Friday concluded that the application by Devas (Mauritius) Ltd and other investors in the company to join the proceedings was “well founded”, especially since the satellite company has been placed in liquidation in India.
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There is “obvious merit” in allowing investors in Devas Multimedia to join proceedings aimed at enforcing the $1.2 billion arbitral award won by the satellite firm in 2015, a London judge noted last week, while observing what he termed as the steps being taken by India to make the award ineffective.