In a major blow to the GVK group, the Delhi High Court on Monday allowed South Africa’s Bidvest to sell its stake in Mumbai International Airport (MIAL) to a third party, paving the way for the Adani group to make investment in the marquee airport.
According to sources, GVK is likely to challenge the verdict at the division Bench of the high court. Adani Enterprises (AEL) has been eying to pick up stake in MIAL to mark its foray into the airport business. AEL in February won the rights to develop and operate six government airports but is yet to receive the Union Cabinet’s nod.
