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GMR Infrastructure Limited (GIL), together with its subsidiary GMR Airports Limited (GAL), has executed definitive agreements with investors, settling certain disputes relating to investments made in the latter.
The matter relates to private equity investors who had pumped in a total of ₹1,500 crore in GAL, and the settlement of certain disputes that arose between the investors and the two GMR companies.
The investors include Macquarie SBI Infrastructure Investments 1 Limited, Standard Chartered PE (Mauritius) III Limited, JM Financial-Old Lane India Corporate Opportunities Fund I Limited and JM Financial India Fund III-Scheme C and Build India Capital Advisors LLP.
The disputes are the subject to arbitration proceedings of the Singapore International Arbitration Centre, according to regulatory filings made with BSE.
These definitive agreements will be subject to and conditional upon the issuance of a consent award by the tribunal.
In this regard, and as part of the agreed settlement process, the parties will, subject to completion of certain conditions, make a joint application to the tribunal under SIAC for issue of a consent award in terms of the agreed settlement.
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