National airports operator AAI has sought documents from its joint venture partners --GMR and GVK -- for a CAG audit of the books of accounts of the Delhi and Mumbai airports.
Airports Authority of India (AAI) which holds 26% stake each in the two joint venture companies --DIAL and MIAL -- has invoked its right under a particular clause of the Operations, Management and Development Agreement (OMDA) while asking the public accounts watchdog Comptroller and Auditor General of India (CAG) to audit the books of accounts of the two companies.
"AAI has appointed CAG as its representative to scrutinise the books of accounts of Delhi International Airport (DIAL) and Mumbai International Airport Limited (MIAL) to ensure that due government share is accruing to AAI," Minister of State for Civil Aviation Mahesh Sharma said in a written reply in Lok Sabha.
While DIAL is a 74:26 JV between AAI and a GMR-led consortium, MIAL is a 74:26 JV between AAI and GVK-led consortium. The AAI ceded control of both Delhi and Mumbai airports to DIAL and MIAL under a public-private partnership agreement in 2006.
25/02/16 PTI/Daily News & Analysis
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Airports Authority of India (AAI) which holds 26% stake each in the two joint venture companies --DIAL and MIAL -- has invoked its right under a particular clause of the Operations, Management and Development Agreement (OMDA) while asking the public accounts watchdog Comptroller and Auditor General of India (CAG) to audit the books of accounts of the two companies.
"AAI has appointed CAG as its representative to scrutinise the books of accounts of Delhi International Airport (DIAL) and Mumbai International Airport Limited (MIAL) to ensure that due government share is accruing to AAI," Minister of State for Civil Aviation Mahesh Sharma said in a written reply in Lok Sabha.
While DIAL is a 74:26 JV between AAI and a GMR-led consortium, MIAL is a 74:26 JV between AAI and GVK-led consortium. The AAI ceded control of both Delhi and Mumbai airports to DIAL and MIAL under a public-private partnership agreement in 2006.
25/02/16 PTI/Daily News & Analysis
