GMR Infrastructure (GMR) announced that the company had emerged as the highest bidder in the tender process conducted by MIHAN India (MIHAN) for the Nagpur Airport in 2019. The Letter of Award (LOA) was issued to GMR Airports (subsidiary of the company) in March 2019.
However, Government of Maharashtra decided to cancel the tender process in March 2020 and MIHAN issued a Letter annulling the bid process.
The decision of MIHAN was challenged by GMR before the Hon'ble Nagpur Bench of Bombay High Court. The Hon'ble Bench heard the petition and delivered the judgement on 18 August 2021, quashing and setting aside the annulment letter issued by MIHAN and directed MIHAN to execute Concession Agreement for the project.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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