Quebec court reserves order on AAI/AI plea

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 wo

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.

Earlier this week, Devas shareholders said they had been granted permission by a Quebec court to garnish property belonging to AAI and AI held by the International Air Transport Association (IATA) in Montreal. This included $17.3 million in ticketing revenue of AI and $12.76 million of air navigation and aerodrome charges international airlines owe to AAI.

After the intervention of Air India’s counsel in Canada, the Quebec Superior Court heard the applications to quash and stay the garnishing order on January 4 and January 5. The court has reserved its decision, which is likely by the end of this week, multiple sources said.