GVK Group has been awarded the Navi Mumbai International Airport (NMIAL) project. In the past, on several occasions the group had managed to get loans from banks in scandalous manner, and many of them have turned NPAs. It has huge burden of debt. GVK Power & Infrastructure Ltd, the listed company of the GVK Group and the holding company of the GVK Airport Developers Ltd and Mumbai International Airport Ltd (MIAL) has debt of over Rs 16,000 crore on consolidated basis. Now, the group is out in the market to raise $1 billion loan for the NIMAL project.
