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

[Luffy 500]

Maldivian gov have every right to take any decision with regard to safegurading their security and economic interests. They are an independent country after all. Problem with these aggressive, hypocrite Indians is that they think they own the subcontinent based on their mythical belief of akhand bharat. After poking their dirty nose in the internal affairs of other states and instigating sate sponsor terrorism, they want others to view them some sort of saints. They should behave within limits of intl.norms and don't act like idiots. Sub-continent/Asia is not N.america and India is not US.

 

[idune]

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

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".


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

Ouch!!This will leave a mark on you know who and where. Hope Maldives can make smooth transition and seek help from China or other friendly countries.

 

[my2cents]

Ouch!!This will leave a mark on you know who and where. Hope Maldives can make smooth transition and seek help from China or other friendly countries.

I see vultures hanging around the airport...

 

[Spring Onion]

I see vultures hanging around the airport...

Oh when India grabs the deal its business and when others get the opportunity it becomes vulturism.

 

[my2cents]

Oh when India grabs the deal its business and when others get the opportunity it becomes vulturism.

First of all it is an Indian company GMR along with Malaysian company not India which won the bidding in a transparent manner.
Don't you guys see political angle to this deal and its likely fallout. You guys are celebrating even before the transfer of power... its kind of funny. Of course you guys are acting like vultures because of your insensitive attitude for a illegitimate business grab.

 

[Spring Onion]

First of all it is an Indian company GMR along with Malaysian company not India which won the bidding in a transparent manner.
Don't you guys see political angle to this deal and its likely fallout. You guys are celebrating even before the transfer of power... its kind of funny. Of course you guys are acting like vultures because of your insensitive attitude for a illegitimate business grab.

illegitimate business grab?? the court has ruled in favour of Maldives.

Now its up to Maldives to whoever it hands over the business and get a better deal in terms of money.

China, Malaysia, BD, US, Russia anyone who can get it has the right to think over grabbing this business

 

[my2cents]

illegitimate business grab?? the court has ruled in favour of Maldives.

Now its up to Maldives to whoever it hands over the business and get a better deal in terms of money.

China, Malaysia, BD, US, Russia anyone who can get it has the right to think over grabbing this business

I don't have any problem even Pakistan gets piece of the pie...ultimately you have deal with the reality of paying the investors who have built the airport and compensate to the tune of $700 million. How can you generate to tune of 700 million without charging the users of the airport?? We all know Maldives is broke and a deadbeat nation. It even requested India to lend them money to pay for the salaries to its employees. It is like stabbing the Indian interests in the back and have the temerity to ask for a handout.

 

[Spring Onion]

Maldives govt. takes over airport



We are honouring the Singapore Court order, says GMR official

The Maldives government formally took charge of the GMR-operated Ibrahim Nasir International Airport here on Thursday midnight and handed it over to the Maldives Airport Company Limited (MACL).


At a ceremony organised by the government just before midnight, the project’s guarantor, the Finance Ministry, took over from GMR. “It’s a smooth transition. There will be no problems,” said Masood Imad, Media Secretary to President Mohamed Waheed.

“We are not handing over. They are taking over,” said GMR spokesperson Arun Bhagat. Asked to elaborate, he said a handing over would have been willingly carried out. This was not the case here. “We are honouring the Singapore Court order.”

GMR said there would be no disruptions despite the issues it had with the government. The process of taking over of an airport was complex and could not be completed in a day. MACL would require at least a month for complete control.

“There will be no disruption of services or flights,” Mr. Bhagat said.

Tourism is the largest revenue earner for the country and this is the peak season.

A scheduled runway re-carpeting work will be taken up as scheduled from around 1 a.m. to 7 a.m. on Saturday, and airlines have been given advance notice. A few flights have been re-scheduled owing to this. There have been no cancellations so far.

To maintain a seamless transition, MACL has offered to retain all Indian employees too, and stick to the payment conditions of GMR. Each month, GMR had disbursed 50 per cent of the salary of local employees in U.S. dollars. In a dollar-starved country, this was an additional incentive for Maldivians working at the airport.

Meanwhile, GMR continued to explore its legal options. “The legal position is not yet clear. The judge spoke about expropriation, which means compensation has to be given. But it is too early to talk about this,” said Mr. Bhagat.

GMR, which has a 77 per cent stake in the airport (Malaysia Airports Holdings Berhad holds the remaining stake), was awarded the contract in 2010 to operate the airport for 25 years. Maldives terminated the contract on November 27. On December 1, it gave seven days to GMR to hand over the airport.
The Hindu : Business / Companies : Maldives govt. takes over airport