MIAL, HDIL come to settlement over Airport slum rehab

Mumbai international airport limited (MIAL) which is managed and operated by GVK, said it has managed to settle all issues relating to the Slum Rehabilitation Agreement with Housing Development & Infrastructure Ltd (HDIL) on Monday, in connection with the rehabilitation of slums in the vicinity of Mumbai airport.

The two have withdrawn all claims and counter claims they had lodged against each other.

“There was a dispute which was going on, which has got settled in arbitration between HDIL and MIAL. That dispute has now been settled, and both the parties agreed for no future liability between them,” Hari Prakash Pandey, senior VP- Corporate Finance and Investor Relations, HDIL told The Asian Age.

According to officials, HDIL was awarded the slum rehab work by MIAL, but the contract was cancelled in 2013 due to lack of work.

On Monday during the settlement, HDIL gave a written note that in future it won’t interfere in the rehabilitation work of slums near airport and MIAL took back all the complaints it had made against HDIL. MIAL also assured not to charge any penalty for delaying the rehab work.

Officials said the state government would now take a decision over who be in charge of the rehabilitation of slums in the vicinity of the airport.

MIAL had entered into an agreement with HDIL in October 2007 for the slum rehabilitation project at Chhatrapati Shivaji International Airport (CSIA) in Mumbai.

However, the agreement was terminated by MIAL in February 2013.