Adani Enterprises' MIAL exempted from paying monthly annual fee to AAI

Adani Enterprises Ltd (AEL) on Monday announced that its step-down subsidiary, Mumbai International Airport Ltd (MIAL), had invoked arbitration against the Airports Authority of India (AAI) and will be exempted from paying Monthly Annual Fee (MAF) to the authority for a certain period.

"MIAL is excused from making payment of MAF for the period from March 13, 2020 to February 28, 2022 due to existence of force majeure," the official statement of AEL read.

The conglomerate in the statement has said that the amount of MAF paid by MIAL to AAI for the above-mentioned period will refunded along with interest.


AEL was seeking certain reliefs on account of the occurrence of a force majeure event, specifically Covid-19 pandemic, under the Operation, Management and Development Agreement (OMDA) dated April 4, 2006. The Arbitral Tribunal had pronounced the award to the company on January 6, 2024.

Along with the exemption in MAF, the terms of OMDA will be extended for the period which is equivalent to time between March 13, 2020 to February 28, 2022.

"The award may be challenged by AAI within three months, in which case MIAL will appropriately defend the matter," said the official statement of AEL.