Sunday, July 21, 2013

NEWS | Airport promoters initiate legal action against JV partner

Promoters of the Regional Airport-Holdings International Limited (RAHI) on Thursday announced that legal action has been initiated against IL&FS Transportation Networks Limited (ITNL) and ILT&FS Engineering (IECCL earlier known as Maytas) in the wake of the Gulbarga and Shimoga airport projects languishing for want of appropriate responses from IL&FS.
RAHI is a joint venture between Rahi Aviation Holdings Private Limited (RAH) and ITNL and IT had come into being to save the Gulbarga and Shimoga projects which were abandoned by IECCL.

Umesh Kumar Baveja, chairman RAHI, said the organisation had worked assiduously until December 2011 to complete two-thirds of the Gulbarga project and almost third of the Shimoga project before serious differences between the two JV partners of RAHI brought the projects to a grinding halt.


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