Tuesday, April 04, 2006

Airports: HC rejects Reliance plea

New DelhiI: The Delhi High Court on Monday rejected a plea by Anil Ambani's Reliance Airport Developers (RAD) seeking an interim stay on signing of share holders agreement and other documents for setting up Delhi and Mumbai airport joint venture companies.
RAD had on Friday sought court's intervention to stay signing of share holders agreement and Operation, Management and Development Agreement (OMDA) between AAI and the two private consortiums led by GMR-Fraport and GVK-South African Airports.
With the court refusing to intervene, the two agreements would be signed on Tuesday. Initially, the OMDA is for 30 years, which can be extended for another 30 years.
04/04/06 Times of India
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