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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 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 wins maldives airport case, seeks compensationThe tribunal has directed Maldives and the state-owned Maldives Airports Company (MACL) to pay $4 million legal damages to GMR within 42 da...
- GMR gets clean chit from Maldives probe agency in Male airport case"GMR has invested $240 million in the project so far. GMR has always maintained that there is no corruption involved in the bid."
- 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.
- Termination of GMR contract not to affect bilateral ties: IndiaIndia today hoped that termination of the GMR's Male airport project by the Maldives government will not impact its relationship with the n...
- MACL back at helm at Maldives airport, takes over operations from GMRTwo years after it handed over the Male International Airport's operations to India's GMR, the Maldives' state-run MACL was back at the hel...
- 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.
- GMR Maldives spat: Industry wants govt to use diplomatic channelIndian industry today asked the government to use its diplomatic channel to convince Male government not to terminate the GMR project.
- GMR Infra pares gains with Maldives govt set to take control of Male airportGMR Infra pared most of its gains in the afternoon trade on reports that the Maldives government will take control of the Male airport.
- 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...
- GMR is one mistake which former Govt has made: Maldives Govt OfficialSBI has the bigger investment here and they have a very good relationship with Maldives. This is an investment from India says Masood Imad.
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