No immediate comment was obtained from either ISRO or the government over the latest moveThe court allowed Devas shareholders to register a “Hypotheque Judiciaire” or a judicial mortgage on a Paris apartment in the posh 16th arrondissement. A French court has ordered freezing of an Indian government property in Paris on a plea by Devas shareholders who are seeking to enforce a $1.3 billion arbitration award over a cancelled satellite contract, according to the court order copy. Jay Newman, senior adviser to Devas shareholders, said, “India has assets like this all over the world. Devas shareholders moved the French court on September 24, 2021. According to the French court document, three investors — CC/Devas Mauritius, Telcom Devas Mauritius and Devas Employees Mauritius — had moved for the seizure of assets of the Indian government to enforce the arbitration award ordering compensation for the cancellation of the Devas-Antrix satellite deal.

Source: The Telegraph January 14, 2022 03:13 UTC