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GMR Infrastructure has said that its legal costs shot up a good 85 per cent to Rs 375 crore during last fiscal as its ongoing dispute to wrest compensation from the Maldives government is proving costly. GMR Infrastructure has retained a battery of lawyers for its arbitration in Singapore, the first leg of which has been in favour of GMR.
The Arbitration had earlier this fiscal year ruled that GMR was wrongfully evicted from handling the 25-year contract at the Maldives International Airport. GMR is pressing for a compensation of $1.4 billion and a decision may be arrived on the quantum of compensation during this financial year.
