"I realise that some of my criticisms may be mistaken; but to refuse to criticize judgements for fear of being mistaken is to abandon criticism altogether... If any of my criticisms are found to be correct, the cause is served; and if any are found to be incorrect the very process of finding out my mistakes must lead to the discovery of the right reasons, or better reasons than I have been able to give, and the cause is served just as well." -Mr. HM Seervai, Preface to the 1st ed., Constitutional Law of India.

Thursday, June 19, 2014

GMR v Maldives Arbitration: Tribunal Rules in Favour of GMR

A few years back GMR Male International Airport, a subsidiary of GMR, along with Malaysia Airports had entered into a concession agreement with the Government of Maldives and the Maldives Airport Company Ltd. for the development of the airport at Maldives. The Concession Agreement was a twenty five year agreement. In 2012, the Maldives Government had terminated the Concession Agreement on the grounds of frustration. GMR invoked arbitration. The arbitration took place in arbitration where the tribunal held in favour of GMR. The tribunal is yet to arrive at the damages. News reports cam be accessed from here (Business Standard), here (Business Line) and here (The Economic Times). 

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