MCA is also looking into role of auditors and company officials, including company secretary
Navi Mumbai International Airport Pvt Ltd proposed and submitted master plan to CIDCO and also provided performance security as per the terms of concession agreement.
After completion of this 10 per cent stake buy from ACSA along with the earlier purchase of 13.5 per cent from Bidvest, GVK Group's shareholding in MIAL will increase to 74 per cent from the existing 50.5 per cent, a company statement said.
The GVK group holds 50.5 percent stake in the airport and it wishes to sell some of it to free up cash for new projects like the second airport in the island city
The development comes as GVK is looking to free up cash for its upcoming projects, especially the construction of the Navi Mumbai airport, at a cost of approximately Rs 14,000 crore.
In terms of the number of passengers also, the city airport tops with 45.2 million people flying in and out in fiscal 2017 as against 44 million at Gatwick airport.f
Public sector lender Syndicate Bank has put up land bank owned by GVK Group in GVK Perambalur SEZ Pvt Ltd in Tamil Nadu for sale as part of recovery of its outstanding loan of Rs 175 crore.
The GVK Group that runs the swanky MIAL (Mumbai International Airport), pipped rival GMR Group on February 13, 2017, to bag the contract for the proposed international airport in Navi Mumbai, which will ease R
The City and Industrial Development Corporation (CIDCO), for the second time on January 25, 2017, extended the deadline for submitting bids for the Navi Mumbai Airport to February 13, as it received only one R
US buyouts firm TPG Capital, Singapore sovereign fund Temasek, Canada‘s CPP Investment Board and Prem Watsa‘s Fairfax Financial Holdings are in lining up to acquire as much as 49 percent in Mumbai International Airport Ltd (MIAL) from the GVK group
The bids have started coming in, says GVK Reddy of GVK Group. However, he adds that GVK, GMR and the Tatas are the only qualified bidders.
For the past week the 9,000 crore rupee loss that Vijay Mallya has caused the banking system has dominated headlines and mind space.
At least 19 of them have already got green light from market regulator Sebi to launch their Initial Public Offers (IPOs), while draft IPO papers of eight firms are "under process" and may be cleared soon.
Merchant banking sources said the draft papers for all the three Initial Public Offers (IPOs) were being submitted to capital markets regulator Sebi on Tuesday.
At least 20 of these firms have already got the go-ahead from market regulator Sebi to launch their respective Initial Public Offers (IPOs), while draft IPO papers of five firms are currently "under process" but may be cleared soon.
The greenfield hydro electric project - consisting of four units of 82.5 MW each - has been set up by Alaknanda Hydro Power Corp Ltd (GVK Group).
The looming payment is the latest headache for GVK on three projects it took over at the height of the coal boom, which industry experts see as uneconomic with coal prices mired at five-year lows and unlikely to be developed for several years.
GVK Reddy, chairman and Sanjay Reddy, vice-chairman of GVK Group in an interview to CNBC-TV18 discuss what went behind the scenes in terms of putting this new airport together.
The Airports Economic Regulatory Authority turned down the proposal by the Bengaluru International Airport Ltd- a subsidiary of GVK group to increase user development fee (UDF) by 239 percent for domestic and 79 percent for international departures.
GVK Group is calling tenders for other services such as car rentals, opening hotel lounges and travel agency at the airport.
GVK has to raise USD 7 billion in debt to succeed in its venture to mine coal Down Under and fight off stiff competition. The Great Barrier Reef, off the coast of Queensland, is one of Australia‘s greatest natural gifts. The coral reef system stretches for 2,600 km and can be seen from outer space.
In a significant development, the Australian Government today gave green signal to GVK Group's proposed coal terminal at a port that forms part of the USD 10 billion Alpha Coal project in Queensland State.
Sovereign wealth fund Government of Singapore Investment Corp (GIC) has begun talks with India's GVK Group to buy a stake in one of its units that owns Australia's Hancock Coal, the Financial Express newspaper reported.
Ministry of Environment and Forests (MoEF) gives approval to GVK group to raise power project capacity, reports PTI.
The Mumbai International Airport (MIAL) has been selected to host the 11th international aviation meet 'Routes Asia' in 2013.