Hyderabad: GMR Hyderabad International Airport Limited (GHIAL) has sought restraining orders against global ground services and cargo handling company Menzies, which is a joint venture partner of GMR for the cargo handling operations at Rajiv Gandhi International Airport.
In an arbitration application filed before the Hyderabad High Court, the airport operator has requested the judges to restrain Menzies Aviation Cargo (Hyderabad) Limited, Menzies' officials and affiliates from interfering with its business of the Cargo Terminal at the Hyderabad airport.
The airport company also urged the court to restrain Hyderabad Menzies Air Cargo Private Limited (HMACPL), which is a 51:49 joint venture between GMR group and Menzies, from paying benefits such as dividend arising out of the shareholder rights to Menzies till the disposal of the arbitration proceedings and the arbitration award. Further it has sought orders to restrain Menzies from even transferring or encumbering in any manner the shares held by Menzies Aviation Cargo (Hyderabad) Limited in HMACPL, which runs the cargo terminal.
While the reasons for the rift between the GMR-led airport company and Menzies could not be independently verified immediately, an official at Menzies Aviation India management office in Bengaluru refused to comment on the Indian partner's action.
16/09/16 B Dasarath Reddy/Business Standard
To Read the News in full at Source, Click the Headline
In an arbitration application filed before the Hyderabad High Court, the airport operator has requested the judges to restrain Menzies Aviation Cargo (Hyderabad) Limited, Menzies' officials and affiliates from interfering with its business of the Cargo Terminal at the Hyderabad airport.
The airport company also urged the court to restrain Hyderabad Menzies Air Cargo Private Limited (HMACPL), which is a 51:49 joint venture between GMR group and Menzies, from paying benefits such as dividend arising out of the shareholder rights to Menzies till the disposal of the arbitration proceedings and the arbitration award. Further it has sought orders to restrain Menzies from even transferring or encumbering in any manner the shares held by Menzies Aviation Cargo (Hyderabad) Limited in HMACPL, which runs the cargo terminal.
While the reasons for the rift between the GMR-led airport company and Menzies could not be independently verified immediately, an official at Menzies Aviation India management office in Bengaluru refused to comment on the Indian partner's action.
16/09/16 B Dasarath Reddy/Business Standard
0 comments:
Post a Comment