Devas seeks to seize Air India overseas assets to enforce Antrix arbitration award

Bengaluru: Devas Multimedia Pvt. Ltd. has filed a petition in a New York court seeking to seize the assets of Air India in the United States as reparation for India’s failure to honour an $1.2-billion arbitration award won by the satellite firm in 2015.

This makes it the second company—after Cairn Energy Plc—to target the overseas assets of the beleaguered airline in its bid to enforce an arbitration award on the government.

In its petition to the court, Devas stated that the airline is the “alter ego of the Republic of India” and “therefore jointly and severally liable for the debts and obligations of India itself.”