India freezes Rs 250-cr loan to Maldives

December 07, 2012 12:40

India has announced that it would be freezing a Rs 250-crore loan to Maldives. The investment of GMR Infrastructure and debt exposure of a clutch of Indian banks to the Male International Airport appeared to be under a cloud as a Singapore court upheld the right of Maldives to take over the airport, after days of fierce wrangling. The court, however, also emphasised GMR's right to compensation.

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