Axis Bank starts arbitration process against Maldives govt

Jul 24, 2013, 07.26 PM IST

The names of the arbitrator are likely to be finalised by September. The final hearing, however, will take place in December. Axis Bank had lent around USD 160 million to GMR for Male airport development.

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Axis Bank starts arbitration process against Maldives govt

The names of the arbitrator are likely to be finalised by September. The final hearing, however, will take place in December. Axis Bank had lent around USD 160 million to GMR for Male airport development.

Like this story, share it with millions of investors on M3

Axis Bank starts arbitration process against Maldives govt

The names of the arbitrator are likely to be finalised by September. The final hearing, however, will take place in December. Axis Bank had lent around USD 160 million to GMR for Male airport development.

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After GMR lost the Male airport contract, the Axis Bank-led consortium has finally resorted to legal measures to recover their dues. CNBC-TV18 learns that their lead lender Axis Bank has started the arbitration process.

The names of the arbitrator are likely to be finalised by September. The final hearing, however, will take place in December. Axis Bank had lent around USD 160 million to GMR for Male airport development.

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