July 24, 2021
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Devas Sues Air India to Recover $1.5 Billion Award

The shareholders in Devas Multimedia have sued Air India to recover the sums Devaas had won in arbitration awards against the Indian government and seize its flagship carrier’s foreign assets.

According to the report from the shareholders, it is found out that Devas and its affiliates were owed more than $1.5 billion by the government.

Describing state-owned Air India as the “alter ego” of India, three Devas investors – Devas (Mauritius) Ltd, Telcom Devas Mauritius Ltd, and Devas Employees Mauritius Pvt Ltd – said in the petition to the U.S. District Court for Southern District of New York.

Pic Courtesy: google/ images are subject to copyright

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