"GMR has invested $240 million in the project so far. GMR has always maintained that there is no corruption involved in the bid."

GMR says it "feels cheated" for having the contract cancelled over an illegal component present in it, which they were not aware of.

The Maldives govt does not have the wherewithal to manage and run this airport. Having done a Dabhol on GMR, they are likely to scare away ...

The transfer process was very smooth & there would be three-week transition period during which GMR and MACL will work together; Waheed's P...

Maldives asserted that it will go ahead with the takeover of the Male International Airport from GMR Infrastructure.

Shares of GMR Infrastructure fell in the afternoon reacting to the Singapore Court of Appeal's ruling that the Maldives government has the ...

“We wanted to explain how ruinous this deal was for Maldives & to seek PM's intervention in perhaps convincing GMR to renegotiate.

GMR has so far refused to take Maldives' bait of compensation for the cancellation, saying it was in the nation for operating the airport a...

Khurshid says GMR seems on strong wicket legally and multilateral agencies like International Finance Corporation were involved in original...

Indian industry today asked the government to use its diplomatic channel to convince Male government not to terminate the GMR project.

Maldives today asserted that it will go ahead with the takeover of the Male International Airport from GMR later this week.

Stating that GMR Infrastructure has not invested in Maldives "to be compensated", the company has said it will take all "legal remedies" to...

The Maldives govt rejects Singapore court's order to suspend termination diktat; says it will operate Male airport from Saturday

Reacting to the Maldives' stand that its decision was "non-reversible", GMR said sovereign guarantee in the contract should be "respected".

The govt's decision is non-reversible and was based on legal advice we got from our lawyers in UK and Singapore, a Maldives official said.

The government warned Maldives that it might freeze $25-million annual aid to the country amid anger over the cancellation of an airport co...

The new government, headed by President Mohamed Waheed, has asked GMR to temporarily halt the development of a new terminal at INIA.