GMR says Maldives govt, aviation agency liable to pay damages

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

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

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

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

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

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

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

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

"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

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

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.

Malaysia to work out solution to GMR-Maldives airport row

Malaysia has pledged to work out a solution to the issues surrounding the Maldives government's decision to annul the airport contract given to a consortium led by India's GMR Group and Malaysia Airports Holdings Berhad (MAHB).

GMR's Maldives airport project flies into rough weather

The new government, headed by President Mohamed Waheed, has asked GMR to temporarily halt the development of a new terminal at Ibrahim Nasir International Airport (INIA).