GMR seeks over $800 mn as compensation, Maldives insists on forensic audit
"We have sent a letter to the Maldivian government indicating a number of more than $800 million as compensation amount. This is our initial estimate. The final figure would be based upon various calculations, loss of profit among others," GMR (Airports) CFO Sidharath Kapur said.
The Maldivian government, however, debunked the calculations and insisted on getting a forensic audit done through an international firm.
"We will go in for a forensic audit as we want to see how much money has poured in to GMR coffers through the Male International Airport and how much actual money has been spent here. As per our information, GMR has cashed in only USD 150 million of the about USD 350 loan it had bagged through a bank," Maldives President Mohamed Waheed's press secretary Masood Imad said.
Asked if GMR is open to a forensic audit, Kapur told PTI, "Our books are transparent. The concession agreement signed with Maldives government did not have the clause of forensic audit. Having said that, I must add that we don't have any
objection to an audit but it has to come through proper legal process".
Sources in the Maldivian government say that the compensation amount, as per their calculations, should come to about a lower limit of USD 150 million
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