Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
01 October, 2014 21:45 IST
News

Source: rss (01-Oct-14)
Comments  |  Post Comment

Days after it was unceremoniously thrown out of Maldives airport project, GMR Infrastructure said involvement of a foreign country in Island nation's decision cannot be ruled out. GMR Airports CFO Sidharth Kapur said this to reporters in New Delhi on Wednesday.

He was responding to a query whether GMR saw involvement of a foreign country like China in cancellation of its over USD 500 million contract to build and operate the Male airport.

Maldives has refused to abide by a Singapore court decision that stayed the termination of GMR contract, and has said it will go ahead with its decision to takeover the airport by Friday.

GMR has so far refused to take Maldives' bait of compensation for the cancellation, saying it was in the nation for operating the airport and not for compensation.

Asked whether the company would appeal to the International Court of Justice, Kapur said, they expect and appeal to Maldives government to honor international law.

Kapur said the company was thankful for India's support to it since the beginning of the crisis and hoped New Delhi will take everything possible from their armoury to ensure that something amicable comes out.

India has made its stand very clear that the decision of the Maldivian government was likely to impact the bilateral relations.

Shares of the company gained Rs 0.75, or 3.9%, to trade at Rs 20. The total volume of shares traded was 3,866,079 at the BSE (Wednesday).



G M R Infrastructure Limited  


News
RBI hikes FII limit for Apollo Tyres to 45% - 01-Oct-2014 18:32
Escorts Agri Machinery sales up 9.4% in September'14 - 01-Oct-2014 17:24
Tata Motors sales fall 8% in September - 01-Oct-2014 17:20
TVS Motor posts 27% sales growth in September' 2014 - 01-Oct-2014 17:13
Indiabulls Power names Jayant Kawale as managing director - 01-Oct-2014 17:10
BHEL pays 76% final dividend for fiscal 2013-14 - 01-Oct-2014 16:57
SSWL sales climb 12% in September'14 - 01-Oct-2014 15:42
Mahindra reports 8% growth in September tractor sales - 01-Oct-2014 15:33
M&M auto sales up 4% in September - 01-Oct-2014 15:24
NIIT to partner Microsoft for 'Women in Tech' initiative - 01-Oct-2014 15:14
Tata Global JV firm opens Starbucks store in Hyderabad - 01-Oct-2014 15:12
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   hkgkq2 into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer