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No taxes payable by GMR on Male airport contract compensation: MaldivesThis announcement brings a major relief to GMR Group as it doesn't need to pay over USD 20 million now.- Maldivian govt slaps USD 20.5 mn income tax notice on GMRThe Maldivian government has slapped a notice seeking USD 20.5 million towards income tax and fines on GMR Male International Airport (P)Lt...
- GMR Male Airport wins $270 mn in international tribunal against MaldivesCompensation covers debt, equity invested in the project, a return of 17% as well as termination payments and legal costs.
- GMR wins arbitration against Government of Maldives; Gets compensation of $270 millionIt added that the Concession Agreement was wrongfully repudiated by the Government of Maldives and Maldives Airport Company Limited on 29th...
- GMR Infra gets favourable verdict on Axis Bank debt arbitration in MaldivesGMR Infrastructure got a big relief in its ongoing arbitration in Maldives after the tribunal there ruled that the damages to be paid by th...
- Mali airport case: GMR Infrastructure says international tribunal rules in its favourMR Infra said the assessment of compensation amount payable by the Maldives govt related to Mali airport agreement is expected to be comple...
- GMR Infra Q3 net loss widens to Rs 638.33 croreThe company has interests in Airports, Energy,Highways and Urban Infrastructure sectors. It has 15 Power generation plants of which 8 are o...
- GMR claims $803 million from Maldivian government for termination of Male Airport contractGMR entered into a Concession Agreement with Government of Maldives for modernisation and operation of INIA in 2010.
- GMR says Maldives government, aviation agency liable to pay damagesThe contract was unilaterally terminated by the Maldives government, which initiated arbitration proceedings on November 29, 2012.
- Airports Council International cautions members against investments in MaleACI apprehends the Maldives government's motive to transfer the disputed Airport to a wholly-owned subsidiary of the current operator MACL.
- Maldives Airport Company Limited takes over airport operations from GMRThe transfer process was very smooth & there would be three-week transition period during which GMR and MACL will work together; Waheed's P...
- GMR spat: Singapore High Court rejects Axis plea, GMR to hand over airportAxis Bank leads a clutch of lenders, which includes Indian Overseas Bank and Indian Bank, with exposure to the airport project.
- Will handover airport to MACL at midnight tonight: GMR InfrastructureTerminating the $511 mn contract with GMR on Nov 27, Maldivian govt had given time till tonight to the Bangalore-based firm to handover the...
- GMR spat: Maldives ends deal after waiting 45 days for PM Manmohan Singh; wanted to explain why deal was unsustainable“We wanted to explain how ruinous this deal was for Maldives & to seek PM's intervention in perhaps convincing GMR to renegotiate.
- Will go ahead with takeover of airport project from GMR: MaldivesMaldives today asserted that it will go ahead with the takeover of the Male International Airport from GMR later this week.
- Singapore High Court stays termination of GMR Male airport contractThe Singapore HC stayed the Maldives government's decision to terminate the $500 million contract awarded to infrastructure major GMR-led c...
- Maldives' decision to terminate contract with GMR Group unlawful: External affairs minister Salman KhurshidKhurshid has termed as "unlawful" the decision by the Maldives to terminate a contract with the GMR under which the Indian company was to o...
- Maldives move to terminate contract unlawful: GMRThe company said that this unlawful and premature notice on the pretext that the Concession Agreement is void is completely devoid of any l...
- GMR's Maldives airport project flies into rough weatherThe new government, headed by President Mohamed Waheed, has asked GMR to temporarily halt the development of a new terminal at INIA.
- GMR Infra arm bags project for Male International AirportThe total cost of the modernisation and expansion project, estimated at $511 million, is being funded through a combination of debt and equ...
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