Interest charged on Air India dues: GMR, AAI on war path
After troubles in the Maldives, GMR, which is the largest stake holder in a venture that runs the Delhi airport, could be on a collision course with its consortium partner the Airports Authority of India (AAI) on the issue of sharing revenues.
AAI has raised the issue of Delhi International Airport Ltd or DIAL, the consortium that runs the airport, not sharing the interest charged on Air India’s dues. The state-owned airport operator has raised the issue with an oversight committee — the OMDA Implementation Oversight Committee (OIOC).
“Our internal audit found that DIAL has not shared the interest they charge on AI dues on the grounds that the airport company had to borrow money from the market to fund their working capital requirements, which otherwise would have come from Air India. We have raised this issue and if we come across any earlier instance of them not paying us our share from the interest earned, they will have to give that money to us with interest,” said a senior AAI official.
When contacted, GMR did not comment on this story. According to the operations, maintenance and development agreement (OMDA) — the agreement between AAI and DIAL on running the airport — DIAL is to share 45.66 per cent of its total revenues with AAI and interest charged on dues is considered as revenues.
“According to the principles of the agreement, the interest charged on dues should be shared with us our demand is within that. The Mumbai airport is paying us our
Airport Robbery !
Ram | 12-Dec-2012Reply | Forward What do we expect more? These Airport companies came into being under Shri Patel with 'shell' companies in Mauritius and hardly pay any Indian Tax. Most Airlines have pulled or threatened to be out of Delhi and Hyderabad due High Taxes... why is it so.. they were kicked out of Maldives is no wonder- politics apart! ASSOCHAM supports KingFisher, ever wonder why they call them ASS-O CHAM!!
GMR
K Ganesan | 12-Dec-2012Reply | Forward GMR is an unknown entity untill 2003.Did any body heared about GMR Group until then.Some influential politician might have hugely invested in this company and bagged the lucarative Airports in India viz Hyderabad & Delhi.In these deal politicians of NDA & UPA are involved and benefited at the cost of public money.When they took over the maintenance of Delhi airport what was the necessity in demolishing AAI colonies and constructing Malls,Hotels etc.Why they have not absorbed the AAI employees attached to both the airports.All the Civil Aviation ministers except Sharad Yadav were interested in benefiting the private airport operators at the cost of public money.Can NDA assure the retake of these private airports if they are voted to power.They will not because they too benefited out of these deal though they were in opposition.Subramanya Swamy can do a favour to the nation by filing a special writ SC.God alone can save this country.
GMR
K Ganesan | 12-Dec-2012Reply | Forward GMR is an unknown entity untill 2003.Did any body heared about GMR Group until then.Some influential politician might have hugely invested in this company and bagged the lucarative Airports in India viz Hyderabad & Delhi.In these deal politicians of NDA & UPA are involved and benefited at the cost of public money.When they took over the maintenance of Delhi airport what was the necessity in demolishing AAI colonies and constructing Malls,Hotels etc.Why they have not absorbed the AAI employees attached to both the airports.All the Civil Aviation ministers except Sharad Yadav were interested in benefiting the private airport operators at the cost of public money.Can NDA assure the retake of these private airports if they are voted to power.They will not because they too benefited out of these deal though they were in opposition.Subramanya Swamy can do a favour to the nation by filing a special writ SC.God alone can save this country.
