Singapore/Male: In a severe blow to Indian infrastructure major GMR, Singapore Supreme Court Thursday ruled that the Maldivian government has the authority to reclaim the Male airport from the firm even as India stressed on "fulfilment" of all legal processes regarding compensation.
The Court's ruling left GMR with no room for manoeuvring and Maldivian government officials in Male said a deal has been worked out with GMR for the handing over of the airport.
"Singapore Court of Appeal (the Supreme Court) has passed judgement that the Maldives Government has the authority to take back the airport," Maldives President Mohamed Waheed's Press Secretary Masood Imad said, adding that his government will go ahead with the transfer as scheduled.
"There was a final meeting held today with GMR officials including their CEO and our Acting Transport Minister and two other Ministers. They have agreed for smooth transfer tomorrow itself. A Transition Management Committee will be formed tomorrow for the same which will include representatives from GMR and Maldives Airport Limited Company," Imad said.
06/12/12 PTI/ZeeNews
