GVK Airport Holdings on Thursday told the Delhi High Court how it plans to buy South African company Bidvest Group’s stake in Mumbai International Airport Limited (MIAL). Details of where the money will come from and how it will be given to Bidvest were submitted in a sealed cover to the court. Further proceedings in the case will be done in-chamber at GVK’s request, the court said.
Bidvest had sought that the High Court direct GVK Airport Holdings to prove that it had Rs 1,300 crore to buy out its stake. The court is hearing a plea by GVK Airport Holdings seeking injunction against Bidvest selling its stake to a third party.
