Adani Enterprises gain 2% after Tribunal orders refund of monthly annual fee for COVID period to Mumbai Airport.
Gautam Adani-led company’s step-down subsidiary, Mumbai International Airport Ltd (MIAL), has secured a favorable outcome in the arbitration case against the Airports Authority of India. MIAL has been granted relief by an Arbitral Tribunal panel, exempting the company from making monthly annual fee payments for the period spanning March 13, 2020, to February 28, 2022.
As of 1:23 pm, the company’s shares exhibited a positive trend, trading 1.87% higher at ₹3,018.90. The victory in the arbitration case contributes to the positive market sentiment surrounding the Gautam Adani-led group, as MIAL successfully navigates the legal landscape in its favor.
