An arbitral tribunal has asked the Airports Authority of India (AAI) to refund monthly fees taken from Adani group-owned Mumbai International Airport Ltd (MIAL) during the Covid-affected period between March 2020 and February 2022. MIAL, a stepdown subsidiary of Adani Enterprises Ltd (AEL), runs Mumbai airport, which is India’s second-busiest. MIAL had invoked arbitration against the AAI “seeking certain reliefs as eligible to it on account of the occurrence of force majeure event (Covid-19 period) under the Operation, Management and Development Agreement dated April 4, 2006”, AEL said in a statement.
