Cidco wants to check GVK's Navi Mumbai airport stake sale for breaches

Maharashtra government body City and Industrial Development Corporation (Cidco), which owns 26 per cent stake in Navi Mumbai International Airport (NMIAL) along with GVK Group, wants to examine the sale of stake in GVK’s airport holding company (holdco) to ensure there is no breach in the concession agreement and request for proposal conditions. In a communication to GVK Group on May 18, Cidco said after the stake sale in GVK Airport Holdings to National Investment and Infrastructure Fund, Abu Dhabi Investment Authority, and PSP Investments of Canada, third-party investors will acq.....

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