GVK Airport Holdings case: SC refuses to give any relief to Bidvest arm
The Supreme Court on Tuesday refused to give any relief to South African firm Bid Services Division (Mauritius) – a subsidiary of Bidvest Group – and asked it to move the Delhi High Court against the arbitration tribunal’s interim order that restrained it from transferring its 13.5% stake in GVK Airport Holdings, the main holding company for the Mumbai International Airport (MIAL).
A Bench led by Justice R Bhanumati, while disposing of the Bid Services’ plea, asked it to move the HC against the order of the arbitral tribunal, which had restrained any transfer of stake till “final disposal” of the arbitration proceedings. It also urged the HC to expeditiously consider Bid Services’ plea for interim relief.
