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
Sets aside Rs 10,000 cr to buy Mumbai airport stake
GVK also claimed that none of the group companies, barring MIAL, have received any notice from the ministry
A formal agreement was signed today by GVK group founder and chairman GVK Reddy and L&T's managing director S N Subrahmanyan
GVK had earlier last week moved the high court seeking to stop its South African partner Bidvest from selling its stake in Mumbai International Airport Ltd.
GVK currently manages Mumbai International Airport through its subsidiary GVK Airport Developers Ltd
The latest valuations of these assets are higher than the outstanding project debt
In the last of a four-part series, Business Standard looks at how the conglomerate grappled with debt while facing insolvency
company has to procure coal through e-auctions to run the project in the absence of a long-term fuel linkage