Bidvest moves Delhi HC against GVK, investors in airports holding firm

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.

Bidvest of South Africa, a key shareholder in Mumbai International Airport Ltd (MIAL), has moved the Delhi High Court against the National Investment and Infrastructure Fund (NIIF), the Public Sector Pension Investment Board (PSP Investments) of Canada, and the Abu Dhabi Investment Authority (ADIA), as well as the GVK group, saying the agreement signed between GVK and the new investors in October last year would lead to a change in the shareholding of MIAL, which violates its right of first refusal.

The lawsuit, filed on Monday, comes at a time when the Union government is seeking foreign direct investment in India,