GMR studying Singapore court order

Syndicated from IANS | Published on Thu, Dec 6 2012 20:21 IST | 14 Views | Add comment

The GMR-backed consortium GMIAL Thursday said it is studying the latest verdict of the Singapore High Court which has gone in favour of the Maldives government.

"We have no comments on the order at the moment, as we are in process of evaluating the same," a GMR spokesperson said.

Chief Justice of Singapore Sundaresh Menon said in court Thursday that

the Maldives government "has the power to do what it wants, including expropriating the airport,".

GMIAL had got a brief reprieve Monday after the High Court, which is acting as an arbitrator in the issue, stayed the decision to terminate the $500 million contract awarded to GMIAL.

The Maldivian cabinet has asked GMIAL to vacate and remove all property from the airport within 30 days.

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