Singapore High Court issues stay order for GMR but Maldives say No.
We are ready to give any compensation to GMR- govt

The High Court in Singapore has issued a stay order in favor of India’s GMR Infrastructure that GMR can continue with the works of the development of the Ibrahim Nasir International Airport as per the agreement signed between GMR and Maldives Government pending a ruling made in the arbitration case filed.

However the Maldives Government has responded that GMR will have to leave Ibrahim Nasir International Airport on Saturday as per the notice given to them on 27 November. Defence Minister Mohamed Nazim in his capacity as Acting Transport Minister has told a news conference immediately after the Singapore High Court stay order, that the decision of the court does not give any ruling on the cancellation of the contract. Consequently, the Government will proceed with the taking over of the airport from GMR on Saturday 8 December.

Attorney General Azima Shokoor has said the Government will be filing an appeal case challenging the Singapore High Court decision.

Special Adviser to President Waheed a former Attorney General Dr. Hassan Saeed has said there is no room to stop the eviction of the Airport. We have looked into the  relevant legal procedures of Singapore and UK and studied the case carefully for a long time. The decision to give a stay order is not legally binding. We are ready to give any compensation to GMR, he said.

Announcing the order of the Singaporean High Court, in a statement issued by GMR yesterday the company stated:“GMIAL is pleased to advise that the High Court of Singapore has yesterday granted injunctive relief against the applicability and operations of Letter Ref No. 13-M/PRIV/2012/921, dated 27/11/2012   issued by the Ministry of Finance & Treasury, GOM. The High Court upon hearing both the parties was pleased to grant this stay in favor of GMIAL (consortium of GMR-MAHB). Both MACL and MoFT, pursuant to the notice issued on 27th Nov 2012 either directly or indirectly, are not allowed to interfere with the rights of the Investor (GMR-MAHB consortium) under the concession agreement.”

“With this GMIAL shall continue to operate the Ibrahim Nasir International Airport as usual as per the provisions of the Concession Agreement. It may be recalled that GMIAL, a consortium of GMR- MAHB (Malaysian Airports) won the bid to operate and modernize Ibrahim Nasir International Airport post a successfully run International competitive bidding conducted by IFC, an arm of the World Bank in a most transparent and open manner,” the statement said.

Meanwhile Indian Government has expressed their deep regret over the unilateral decision of the Maldives Government. They have said President Waheed has assured Prime Minister Manmohan Singh that the Maldives Government will not derail the GMR project but will settle the dispute amicably. Indian External Affairs Minister Salman Khurashid has said India will take necessary action to protect their interests in the Maldives.

India’s Cabinet Committee on Security chaired by Prime Minister Manmohan Singh has discussed GMR issue contemplating on various options to be applied to protect Indian interests in the Maldives.