Team News Riveting
Nagpur, October 8
GMR Nagpur International Airport Limited, a wholly owned subsidiary of the GMR Airport Limited, today signed a Concession Agreement with MIHAN India Limited, towards the upgrade, development and operation of the Nagpur’s Dr Babasaheb Ambedkar International Airport.
The move comes after the Supreme Court orders dated September 27, 2024, upholding the judgement of the Nagpur Bench of the Bombay High Court and thus, directed MIHAN India Limited to execute the Concession Agreement with GMR Airports Limited/its Special Purpose Vehicle. In effect the judgment has directed MIHAN—a joint venture between Maharashtra Airports Development Company (51 per cent) and Airports Authority of India (49 per cent)—to abide by the original concession agreement with GMR Airports signed about five years ago.
“This is in continuation of our letters dated October 01, 2018, March 09, 2019, March 20, 2020, August 20, 2021, May 10, 2022 and October 01, 2024, this is to inform you that GMR Nagpur International Airport Limited (“GNIAL”), a wholly owned subsidiary of the Company has today signed a Concession Agreement with MIHAN India Limited, towards the upgrade, development and operation of the Nagpur’s Dr. Babasaheb Ambedkar International Airport,” GMR Airport Limited said in a regulatory filing today.
The contract status at Nagpur’s Dr Babasaheb Ambedkar International Airport has been argued over in the courts for several years.
