Will Maldives pay GMR Rs 4953 cr for terminating airport contract?

November 21, 2014 10:47

GMR Infra claims USD 803 million (Rs 4953 crore) from Maldivian government towards damages for terminating Male Airport contract.

GMR has won a more than 18-month long legal battle with the Maldives government which started after the government cancelled the company's contract to develop and operate the country's main airport.

According to GMR's filing on the National Stock Exchange, a Maldives' tribunal has judged the government's rejection of the contract "wrongful".

« Back to LIVE

TOP STORIES

Deloitte pegs India's FY25 GDP growth at 6.6%

Deloitte India on Friday said it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India's economic outlook report, Deloitte said the rapid...

No Place For Kohli In This 2024 Side!

No Shubhman Gill or Hardik Pandya either in Sanjay Manjrekar's T20 World Cup team.

We always have to celebrate little wins: Cameron Green

After his side clinched a 35-run victory over Sunrisers Hyderabad at the Rajiv Gandhi International Stadium, Royal Challengers Bengaluru (RCB) batting allrounder Cameron Green said that they have to celebrate such little wins.

SC rejects pleas on 100% EVM-VVPAT verification, paper ballot voting

Pronouncing the judgement, Justice Khanna said the court has rejected all the petitions, including those seeking resorting back to ballot papers in elections.

Good times ahead for United Breweries as heatwave, IPL set the tone

A cocktail of heatwave and upcoming cricketing events is expected to usher in the peak season for the country's largest beer maker, United Breweries. The beer maker, which has gained share in some key markets, will be a major...