The Delhi High Court on Monday dismissed a petition moved by GVK Airport Holdings, a step-down subsidiary of GVK Power & Infrastructure, to stop Bid Services Division (Mauritius), an arm of Bidvest, from selling its stake in Mumbai International Airport Limited (MIAL) to a third party. The court also vacated its earlier interim stay by which it had asked Bidvest to not sell its stake.
A single-judge bench of Justice Sanjeev Narula said that the GVK Power and Infrastructure arm had “chosen not to place on record any material to show its financial means and capacity to complete the transaction,” and instead tried to circumvent the issue by “contending that this question cannot be examined in the present petition”.
