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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.

MACL takes over airport operations from GMR

Last Updated: Saturday, December 08, 2012, 08:48

There would be three-week transition period during which GMR and state-run MACL will work together.

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.

Blow to GMR: Singapore SC rules in favour of Maldives

Last Updated: Thursday, December 06, 2012, 14:18

In a severe blow to Indian infrastructure major GMR, Singapore Supreme Court Thursday ruled that the Maldivian government has the authority to reclaim the Male airport from the firm even as India stressed on "fulfilment" of all legal processes regarding compensation.

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.

India's stern message to Maldives on GMR issue

Last Updated: Tuesday, December 04, 2012, 23:26

In response to a question on the GMR issue, the official Spokesperson of the Ministry of External Affairs also said "we are concerned over reports from the Maldives about continuing violence and intimidation against elected representatives and expressions of radical sentiments".

Industry wants govt to use diplomatic channel in GMR case

Last Updated: Tuesday, December 04, 2012, 19:55

It said the attitude of Male government, despite the rulings of Singapore High Court, will shake the confidence of the investors and will jeopardise the spirit behind the cooperation of the SAARC nations.

Maldives to go ahead with takeover of GMR airport project

Last Updated: Tuesday, December 04, 2012, 18:02

However, the Indian infrastructure major has denied that any deal for handing over the airport project has been worked out with Maldives.