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GMR says Maldives govt, aviation agency liable to pay damages

Last Updated: Thursday, June 19, 2014, 16:08

The GMR Group, which had to exit the Male airport project, today said a tribunal has declared the Maldivian government and the nation's airport agency "jointly and severally liable in damages" to the company for loss caused by the wrongful repudiation of the agreement.

GMR seeks $1.4 billion in damages from Maldives

Last Updated: Friday, June 21, 2013, 15:47

The claim was today filed before an Arbitration Court here and a final order in the matter is likely to come out by end of March next year.

Preliminary hearing on GMR arbitration next month

Last Updated: Thursday, March 28, 2013, 15:53

Four months after Maldives terminated the contract given to Indian infrastructure major GMR to develop and operate the international airport in Male, the two sides will sit down next month in London to begin the multi-million dollar arbitration process.

GMR seeks over $800 mn; Maldives insists on forensic audit

Last Updated: Sunday, December 16, 2012, 13:02

The Maldivian government, however, debunked the calculations and insisted on getting a forensic audit done through an international firm.

GMR seeks over $800 mn; Maldives insists on forensic audit

Last Updated: Sunday, December 16, 2012, 13:02

The Maldivian government, however, debunked the calculations and insisted on getting a forensic audit done through an international firm.

Maldives groups should not misuse GMR issue: Khurshid

Last Updated: Monday, December 10, 2012, 15:59

The Maldives government's scrapping a USD 500 million deal with Indian construction major GMR is "is an issue essentially legal in nature", Khurshid told reporters.

MACL back at helm at Maldives airport

Last Updated: Saturday, December 08, 2012, 19:27

The Maldives Airport Company Limited took over operations from GMR, which was awarded a USD 511-million contract in 2010 by the previous Nasheed government to build and operate the Ibrahim Nasir International Airport for 25 years.

GMR starts Male Airport handover

Last Updated: Friday, December 07, 2012, 21:01

After over a week-long legal battle, Indian infrastructure major GMR will hand over the operations of the Male International Airport to Maldives's state-run MACL midnight tonight with the expiry of the deadline for the same.

We have not asked for funds under standby credit facility: Male

Last Updated: Friday, December 07, 2012, 20:59

Amid reports that India has stopped funds to Maldives over unilateral decision to terminate GMR contract, Maldivian government Friday said it has so far not asked for further release of funds under standby credit facility of USD 100 million extended by New Delhi.

Do not rule out role of foreign hand in Male crisis: GMR

Last Updated: Wednesday, December 05, 2012, 18:25

"I can't say that for sure. But, looking at the political situation and political framework in Maldives, I can't rule out anything," GMR Airports CFO Sidharth Kapur told reporters here.

GMR to take all 'legal remedies' to protect Male contract

Last Updated: Tuesday, December 04, 2012, 10:20

Stating that GMR Infrastructure has not invested in Maldives "to be compensated", the company has said it will take all "legal remedies" to protect its USD 511 million airport contract in the island nation.

GMR row: India freezes aid to Maldives, ties under stress

Last Updated: Monday, December 03, 2012, 14:30

In a move to put pressure on Male, India has frozen aid to the Maldives as its government Monday decided to take control of the international airport despite a Singapore court staying the suspension of the contract given to India's GMR-led consortium.