Delhi HC stops AAI from collecting 38.7% of Mumbai airport’s revenue
The Delhi High Court has restrained the Airports Authority of India (AAI) from collecting 38.7 per cent of Mumbai airport’s revenue as annual fee in view of the adverse financial impact of the Covid-19 pandemic.
Mumbai airport had invoked the force majeure clause to challenge the transfer of Rs 29 crore from its escrow account to the AAI in July.
Last Friday, the HC granted interim relief to MIAL and restrained AAI from transferring funds from the escrow account to itself. The relief will be in place till an arbitral tribunal decides on the matter.
The court also ruled that 38.7 per cent of the actual payments received by MIAL from the functioning of the airport will be deposited in the escrow account from a prospective basis from the date of judgment.
