After over a week-long legal battle, Indian infrastructure major GMR will hand over the operations of the Male International Airport to Maldives's state-run MACL midnight tonight meeting the deadline set for the same.
Two years after it handed over the Male International Airport's operations to Indian infrastructure major GMR, the Maldives' state-run MACL was back at the helm on Saturday.
GMR Male' International Airport Private Limited (GMIAL), a subsidiary of GMR Infrastructure Limited (GMR), has claimed $803 million (around Rs 4,987 crore) from the Maldivian government for 'wrongfully' terminating the international airport contract in that country's capital.
The company will continue to operate the airport and the arbitration process will continue on the side.
Masood Imad, media secretary to the Maldivian President, says: "We have asked MACL to hire a firm like KPMG to conduct a forensic audit of the firm's accounts.
Maldives' state-run MACL on Friday night took over the operations of the Male international airport from GMR after the Indian infrastructure major lost a week-long legal battle over the "unilateral" termination of its $511 million airport modernisation contract.
Indian firm skips midnight ceremony Maldives terms takeover a victory for its people.
GMR was misled by the (predecessor) Nasheed administration to signing a legally unsustainable agreement, says Maldives president, Mohamed Waheed.
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