Compensation covers debt, equity invested in the project, a return of 17% as well as termination payments and legal costs.

It added that the Concession Agreement was wrongfully repudiated by the Government of Maldives and Maldives Airport Company Limited on 29th...

GMR Infrastructure got a big relief in its ongoing arbitration in Maldives after the tribunal there ruled that the damages to be paid by th...

The tribunal has directed Maldives and the state-owned Maldives Airports Company (MACL) to pay $4 million legal damages to GMR within 42 da...

The contract was unilaterally terminated by the Maldives government, which initiated arbitration proceedings on November 29, 2012.

Maldives has ruled out any possibility of return of Indian infrastructure giant GMR in the over USD 500-million Male airport project but sa...

Shares of GMR Infrastructure were down on profit booking even as it got reprieve from Maldives' anti-corruption commission.

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

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

Axis Bank leads a clutch of lenders, which includes Indian Overseas Bank and Indian Bank, with exposure to the airport project.

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.

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

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

The Maldives Airports Company has filed a complaint with the police here over what it terms as "unlawful leasing" of Male International Air...

Maldives authorities have allowed Male International Airport operator GMR Infrastructure to collect airport development and insurance charg...