Mumbai: Shareholders in Devas Multimedia have sued Air India in an effort to restore the number of Dewa Won in the arbitration award against the Indian government and seize US aircraft carrier assets, according to the US District Court Court.
The shareholders said the gods and affiliates owed more than $ 1.5 billion by the government.
Describe Indian state-owned water as “alter ego” from India, three Devas Investors – Dex (Mauritius) Ltd., Telcom Devas Mauritius Ltd and Devas Employee Mauritius Pvt Ltd – said in the Petition to the US District Court for the South York District Court reviewed by Reuters, Airlines This must be responsible for state debt and obligations.
This step came after Cairn Energy sued Air India last month to uphold the $ 1.2 billion arbitration award which was won in a tax dispute to India, then complicated the country’s efforts to sell the mass making airline.
The case is ongoing.
In 2011, the government canceled the Indian Space Research Organization (ISRO) contract with Dex to rent satellite rooms after finding irregularities in agreement.
That, the shareholders said, injuring their multi-million dollar investment value in DEX and led to various arbitration awards, including one by the International Chamber of Commerce, which had not been paid by India.
India has denied settlements, quoting an investigation into the potential of fraud in transactions that lead to the agreement and the bankruptcy court has ordered the liquidation of gods.
India “has mobilized the power of investigations, regulations, taxation, and judicial countries in a coordinated scheme to eliminate DEX,” the shareholders said.
This is “urgent and important” to start identifying and securing Indian assets, given “Strange and extraordinary steps to avoid and cancel the soundless arbitration award where the country is finally responsible”, they said.
The Ministry of Finance declined to comment and Air India did not immediately respond to a comment request.
After Cairn, Devas sued Air India to recover $ 1.5 billion awards
