Category: Timeline Stories

Devas shareholders urge the U.S. District Court for the District of Columbia to deny India’s request for a “stay” to halt shareholders’ efforts to pursue enforcement of their $111 million arbitral award in the U.S

NCLAT upholds NCLT decision and allows winding up of Devas to proceed. Devas plans appeal.

The Superior Court, District of Montreal in Canada upholds an order to allow Devas shareholders to garnish Air India revenues flowing to the International Air Transport Association (IATA), which had totaled several million dollars.

A lien is made public that was issued by a French court on a government owned apartment in an upscale neighborhood Paris. The apartment houses the Indian Deputy Chief of Mission and is worth €3.8 million.

Devas shareholders initiate a new arbitration proceeding against the Indian Government, seeking redress for the Government’s wrongful conduct against Devas and its shareholders to evade enforcement of the $1.3bn ICC Award. The new claim seeks to hold the government accountable for the Award and any other losses suffered by shareholders as a result of India’s actions.

The Indian Supreme Court upholds the NCLT order, denying Devas’ appeal. In a press conference, Finance Minister Nirmala Sitharaman repeats false allegations of fraud against Devas and vows to use the High Court’s decision to evade paying what is rightfully owed to shareholders of Devas

The U.S. District Court in the Western District of Washington rules that there is reasonable cause to allow Devas shareholders to pursue assets owned by Antrix in any U.S. jurisdiction where they can provide evidence of same and granted shareholders’ approval to target Antrix assets in the Eastern District of Virginia.

Devas shareholders file a motion in the U.S. District Court for the Western District of Washington to register enforcement of the $1.3 billion arbitral award, granted by the ICC, nationwide.

U.S. District Judge Thomas S. Zilly of the U.S. District Court in the Western District of Washington ruled Devas shareholders would be permitted to track down assets of India in the US and enforce the $1.3 billion arbitral award granted by the ICC. Additionally, the court orders Antrix to furnish any information and documents showing any transfer of assets, money and business contracts from Antrix to NewSpace India Ltd to Devas by September 17.

The High Court of Justice in London rules that Devas shareholders can join ongoing efforts to enforce the $1.3 billion arbitral award granted by the ICC, a step in safeguarding the award from expropriation attempts by the Indian Government.