Singapore tribunal orders Maldives to pay $250 million to GMR
Male: A Singaporean arbitration tribunal has ordered the Maldivian Government to pay approximately $250 million in compensation to Indian company GMR over termination of contract to run Ibrahim Nasir International Airport (INIA). Singapore International Arbitration Centre has ruled that the Maldivian Government should pay $208 million in damages to GMR Group and after adding the interest it should pay a total of approximately $250 million, Maldives Attorney General Mohamed Anil was quoted as saying by the Sun Online.
PNB Housing IPO oversubscribed over 29 times
New Delhi: PNB Housing Finance's IPO to raise Rs 3,000 crore was oversubscribed 29.53 times on the last day of the offer on Thursday. The IPO received bids for 82,91,97,506 shares against the total
issue size of 2,80,77,500 shares, as per NSE's data till 1915 hrs. The quota set aside for qualified institutional buyers (QIBs) was oversubscribed 37.33 times, non institutional investors 86.17
times, sources said.
FIA moves SC seeking stay on clearances given to AirAsia India
New Delhi: The Federation of Indian Airlines (FIA) on Thursday moved the Supreme Court seeking stay on the operational clearance granted to AirAsia India or directions for expeditious hearing of the matter pending before the Delhi High Court.