Arbitration tribunal restrains Bidvest from selling its stake in MIAL until further order
The arbitration tribunal has restrained South African firm Bidvest Group or Bid Services from transferring its stake in GVK Airport Holdings, the main holding company for the Mumbai International Airport, dealing a major blow to the Adani Group’s bid.
The arbitration tribunal hearing a dispute between the later and its joint venture partner GVK has restrained any transfer of stake till “final disposal” of the arbitration proceedings.
The arbitration tribunal was hearing the case after the Supreme Court in December had directed it to take a call on the sale of Bidvest’s 13.5% stake in Mumbai International Airport (MIAL).
