In a major win for Adani Enterprises Ltd (AEL), the company on Monday announced that said its step-down subsidiary, Mumbai International Airport Ltd (MIAL), had invoked arbitration against Airports Authority of India (AAI). "MIAL is excused from making payment of Monthly Annual Fee for the period from March 13, 2020 to February 28, 2022 due to existence of force majeure," the official statement of AEL read. The conglomerate in the statement has said that the amount of MAF paid by MIAL to AAI for the period will refunded along with interest.
