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GMR denies default on payment, says no revenue share deal with TG govt
RGI Airport
Hyderabad: The GMR Group on Tuesday denied that it had defaulted on payment of Rs 600 crore to the state government of Telangana which is the share of...
Hyderabad: The GMR Group on Tuesday denied that it had defaulted on payment of Rs 600 crore to the state government of Telangana which is the share of the state government revenue until it was brought to light by Roads & Buildings Minister Komatireddy Venkat Reddy
In a rejoinder to the story ‘GMR coughs up Rs 600 crore as TG govt share of RGIA revenue’, published on Monday in these columns, the GMR Group said that that there was no revenue share arrangement or agreement between the Government of Telangana and GMR Hyderabad International Airport Ltd (GHIAL).
The concession for RGI Airport was granted by the Government of India (GoI) and the revenue share is payable as per the said concession agreement executed by the GOI with GHIAL and there is no obligation to pay any revenue share to the Government of Telangana (GoT) as per the concession agreement. “GHIAL is liable to pay the land lease rent only to GoT which is being paid regularly till date without any default and as per the invoices raised by it. There is no due payable whatsoever much less Rs 600 cr to GoT. It is false, baseless and factually incorrect,” the GMR group said.
