GVK moves HC to restrain ACSA from selling stake in Mumbai International Airport to Adani
The GVK group on Tuesday moved the Delhi High Court urging for directions to restrain one of its partner, Airports Company of South Africa (ACSA), from selling its stake in Mumbai’s Chhatrapati Shivaji International airport to the Adani Group.
A Delhi HC bench headed by justice Jyoti Singh has asked ACSA, which holds a 10% stake in Mumbai International Airport (MIAL), to maintain status quo regarding the shareholding till January 14, 2020, the next date of hearing.
GVK Airport Holding, the airport holding company of the GVK group, has alleged breach of the shareholders agreement (SHA) by ACSA by entering into a contract with the Adani Group for the stake sale.
