GMR row: India freezes aid to Maldives, ties under stress

[rcrmj]

We have 10th largest economy with world's second largest consumer base.

Trade with India has always benefited Maldives and will, if things get sorted out.

stop this propaganda nonsenses``your so-called 'second largest' consumption base has nothing to do with modern consumption ```the demand for good quality electronic gadgets, cars, construction materials, medium/high standard garments, tourisms, interior DIY materials, plasma TVs, computers, gaming gadgets and others in India is nothing compared to even a developed city like HK..

your highly inflated economy is mostly made up by primitive consumptions````check WIPO's annual report if you want to know the real 'power' india economy

 

[Mirza Jatt]

Interesting how India continues to act as the neighbourhood bully, trying to stick its fingers into everyone else's affairs.

This is why it is in the interests of smaller countries in the region for Pakistan and China to stand up to Indian hegemony.

Go sril lanka go !!...its time for you to join hands with Pakistan and attack India from both the sides

on topic..

I think it was foolish to freeze the aid at this moment...IMO the chinese are waiting just exactly for a moment like this when the aid from India is stopped...thats the reason why they created this stir along with the anti India minds in Male.

 

[jha]

Why is GoI getting into this..? A country has the authority to cancel a contract after paying the due penalty. I think Maldives govt. is ready to pay.

 

[Skyline]

"India freezes aid to Maldives, ties under stress" ?

Maldives is a upper middle income country,
btw how much "Indian aid" they get per year?

 

[neehar]

"India freezes aid to Maldives, ties under stress" ?

Maldives is a upper middle income country,
btw how much "Indian aid" they get per year?

about $370m
Batting for GMR: Should India use aid to armtwist Maldives? | Firstpost
it may be the higher middle income group country but still gdp of india is 4th largest in the world in terms of ppp...
@topic....i dont think its good to spoil the relations with a friendly neighbour for the sake of a private company..

 

[fallstuff]

WTF! They did not have to explain anything to PM Singh. The contract was NOT signed by Singh, India was not a contracting party.
It was a commercial contract; signed between the Maldives Govt. and a Commercial Entity, GMR.

That is PRECISELY the reason why Manmohan Singh did not meet any body. He is neither a share-holder nor a Director in GMR. Who would he represent? Who would he speak for? What would have been his locus-standi?
The facts are very simple the Maldivian Govt. has reneged on a commercial contract by unilaterally abrogating it. Now since it has been contested by GMR so it is sub judice. The initial response of the High Court of Singapore has gone against the Govt. of Maldives since it sees a prima facie merit in GMR's stand. There will be more to come in some time.

p.s. the objective of this attempt by the Maldivian Govt. seems to indicate some clearly mala-fide intentions. To use Manmohan Singh to brow-beat GMR.
PM Singh did not fall into the trap, since that would have exposed him to legal consequences.
In any case this is simply a fallout of the bitter fight between Gayoom and Nasheed.
Let them claw each other out and lets wait for the next SOS from Male.

Actually your PM did get involve earlier urging Maldives not to cancel the deal but to work it out.

 

[idune]

"India freezes aid to Maldives, ties under stress" ?

Maldives is a upper middle income country,
btw how much "Indian aid" they get per year?

$25 million is what india threatening to block. $350 or so million indians are bragging was given in the past most likely when indian subservient Nasheed was in power or even before. making threat with $25 million indians are making themselves laughing stock.

 

[idune]

WTF! They did not have to explain anything to PM Singh. The contract was NOT signed by Singh, India was not a contracting party.
It was a commercial contract; signed between the Maldives Govt. and a Commercial Entity, GMR.

yet entire indian govt machinary and media harping on the subject as if this is national disaster.

 

[SHAMK9]

GMR row: India freezes aid to Maldives, ties under stress - The Times of India on Mobile


These people are acting like idiots. India should send a few IN ships over just to show them who's boss. India tries to hard to play the "nice guy" in the region with these smaller nation but all too often these nations see this as a weakness and walk all over India. Maybe a show of strength is all that is needed to get these fools to see who is the boss.

Absolute madness, they are a sovereign nation, they cannot be forced to hate or like anyone, world does not revolves around India sir.

 

[dollarman]

$25 million is what india threatening to block. $350 or so million indians are bragging was given in the past most likely when indian subservient Nasheed was in power or even before. making threat with $25 million indians are making themselves laughing stock.

Maldives has a GDp of 2 billion, so that 25 million is actually a significant chunk from their perspective. Also, Maldives grew like crazy in the last 5 years by India's help, doubled their GDP which was only 1 Billion in 2005.

World Development Indicators and Global Development Finance - Google Public Data Explorer

 

[my2cents]

According to one report...

Last month, Maldives had requested a $25-million loan from India to pay civil servant salaries and to build a police academy. GMR has already paid $150 million to Maldives as revenue share and has also invested significantly in modernizing the airport.

So, how can Maldives who got $150 million from GMR request for $25 million more. Are they taking us for a ride???

http://http://economictimes.indiatimes.com/news/news-by-industry/transportation/airlines-/-aviation/singapore-court-rules-in-maldives-favour-gmr-fears-maldives-may-not-be-able-to-compensate-it-adequately/articleshow/17513059.cms

 

[Spring Onion]

its getting too much lets test missiles

SINGAPORE: A Singapore court ruled in Maldives' favour on Thursday in the South Asian island nation's move to cancel a $511 million airport development contract with India's GMR Infrastructure, clearing the way for it to take over the airport.

The ruling comes after an order won on Monday by GMR that had suspended the government's decision to cancel the contract, although the Maldives had still been pressing ahead with plans to take over the airport.

"The Maldives government has the power to do what it wants, including expropriating the airport," Sundaresh Menon, the Chief Justice of Singapore, said in court.





This is what I thought. No court can stop Maldives from expropriating the airport , only that the Maldives government will have to compensate GMR for breaching the contract. GoI displeasure is extra.....

Source: http://www.defence.pk/forums/world-...ourt-rules-favour-maldives.html#ixzz2ELEtN9MQ

 

[Spring Onion]

India loses GMR case, to hand over Male international airport today

In a big blow to India’s hopes in the GMR case, a Singapore court on Thursday ruled that “the Maldives government can take back Male international airport”.(AP/PTI Photo).

TNN | Dec 7, 2012, 02.10AM IST



NEW DELHI: In a big blow to India's hopes in the GMR case, a Singapore court on Thursday ruled that "the Maldives government has the power to do what it wants, including expropriating the airport".


Buoyed by the verdict, the Maldives president's media spokesman Imad Masood told Reuters, "We will take over. We will enroll all those people from GMR who wish to join. Those who don't can go home. By Friday midnight we will take over." The Maldives would pay compensation to GMR , he added.


Stunned by the verdict, India reacted cautiously, saying that it was still studying the order. The MEA (ministry of external affairs) said the order would not impinge on the legal aspect of the GMR case and Maldivian government's contractual obligations under the $500-million deal.


"Our initial understanding is that there are two issues here — rights and ability of a state to take over a property and then the legality of the agreement which is not affected by Thursday's judgment," said MEA spokesman Syed Akbaruddin.


He said India was going to insist on fulfilment of all legal requirements on the part of Maldives. "Fulfillment of all legal process and requirement is what we want to see in this case and we hope that all relevant contracts and agreements would be adhered to and all legal processes are carried through," he said.

GMR officials met with senior officials from MACL ( Male Airport Corporation Limited) on Thursday to discuss the smooth handing over of airport operations to MACL. The transfer of management will be completed on Friday, but GMR will have 30 days to finish the process.

"This is not a happy day for us," said Masood Imad, presidential spokesman. "We are not gloating. But we want to send a message to other foreign investors," he said.

India loses GMR case, to hand over Male international airport today - The Times of India

 

[RKhan]

I wonder if we have any money to spare maybe we could take over for the investment. It would be a great catalyst for relations.

 

[IndoUS]

They gotta payback Malaysia also since they also hold stakes in the airport.