Mumbai International Airport Pvt Ltd MIAL

The lawsuit, filed on Monday, comes at a time when the Union government is seeking foreign direct investment in India, promising ease of doing business to overseas investors.

Action follows criminal case by CBI on July 27 against GVK Group Chairman Sanjay Reddy and MIAL Managing Director GV Sanjay Reddy

This comes at a time when the GVK group is already fighting multiple battles.

Airport Authority of India Ltd had formed a Joint venture with GVK Airports Holdings Limited, promoted by GVK group under public private partnership firm Mumbai International Airport

In a Q&A, Rory Mackey, says India's long-drawn litigious process could impact one of its key infra assets and doesn't set a good precedent for the country as the preferred FDI

A GVK-led consortium in partnership with AAI runs the Mumbai airport under a joint venture MIAL

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Earlier, Bidvest had sought permission to offload 13.5% in Mumbai airport to Adani Enterprises

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Unhappy with the delay in selling its stake to Adani Group in January this year due to litigation by GVK Group, Bidvest had moved the SC

According to the agreement, the final payment and transfer of shares was September 30 which was later extended twice by consent to November 7

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While the Adani group has signed an agreement to acquire 13.5 per cent in Mumbai airport, it wants to increase its stake further over time and has set aside Rs 10,000 crore for the purpose

GVK also claimed that none of the group companies, barring MIAL, have received any notice from the ministry

MIAL has refinanced both its long-term as well as working capital loans