Singapore court backs Malé decision to scrap GMR deal

GMR

In a setback to GMR Infrastructure, the Singapore Supreme Court Thursday ruled that Maldives has the authority to reclaim Malé airport from the firm, even as India stressed on "fulfilment of all legal processes", including adherence to the compensation agreement that was signed as part of the $500-million project.

"The Maldives government has the power to do what it wants, including expropriating the airport," Sundaresh Menon, the Chief Justice of Singapore, said in court.

"We will take over. We will enroll all those people from GMR who wish to join. Those who don't can go home. By Friday midnight we will take over," Maldives President Mohamed Waheed's press secretary Masood Imad said in Malé.

"We are still studying the oral order passed by the Singapore court... We would be able to comment only after studying the final written order," GMR said in its statement.

But PTI quoted Imad as saying that "a final meeting was held today with GMR officials including their CEO... (and) they have agreed for smooth transfer tomorrow itself."

In New Delhi, the MEA said it "hoped that all relevant contracts and agreements would be adhered to and all legal process are carried through."

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