Adani Airports secures $1 billion financing for Mumbai International Airport
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New Delhi (PTI): Adani Group's airport arm has secured USD 1 billion in financing from global investors to fund construction of the Mumbai International Airport, the conglomerate said on Tuesday.
"The transaction was led by Apollo-managed funds, with participation from a syndicate of leading institutional investors and insurance companies which included BlackRock-managed funds, Standard Chartered among others, underlining global confidence in India’s Infrastructure opportunity and Adani Airports’ operating platform," it said in a statement.
Adani Airports Holdings Limited (AAHL), a wholly-owned subsidiary of Adani Enterprises Ltd and India’s largest private airport operator, raised USD 1 billion through a project finance structure for its Mumbai International Airport Ltd (MIAL).
The transaction involves issuance of USD 750 million notes maturing July 2029 which shall be used for refinancing. The financing structure also includes provision to raise an additional USD 250 million, resulting in total financing of USD 1 billion.
"This framework will provide enhanced financial flexibility for the capital expenditure program of MIAL for development, modernisation, and capacity enhancement," the company said in a statement. This is India’s first investment grade (IG) rated private bond issuance in the airport infrastructure sector.
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Allahabad HC sets aside maintenance order in favour of earning wife, says she didn't tell truth
Prayagraj (PTI): The Allahabad High Court has set aside a lower court order mandating a man to pay maintenance to his estranged wife, observing that she earns her living and did not reveal the true salary in her affidavit.
Justice Madan Pal Singh also allowed a criminal revision petition filed by the man, Ankit Saha.
"A perusal of the impugned judgment indicates that in the affidavit filed before the trial court, the opposite party herself admitted that she is a post-graduate and a web designer by qualification. She is working as a senior sales coordinator in a company and getting a salary of Rs 34,000 per month," the court said in the December 3 order.
"But in her cross-examination, she has admitted that she was earning Rs 36,000 per month. Such an amount for a wife who has no other liability cannot be said to be meagre; whereas the man has the responsibility of maintaining his aged parents and other social obligations," it observed.
The high court observed that the woman was not entitled to get any maintenance from her husband "as she is an earning lady and able to maintain herself".
The man's counsel argued in court that the estranged wife did not reveal the whole truth in the affidavit.
"She claimed herself to be an illiterate and unemployed woman. When the document filed by the man was shown to her before the trial court, she admitted her income during cross-examination. Thus, it is clear that she did not come before the trial court with clean hands," the counsel submitted.
The court, in its order, said, "Cases of those litigants who have no regard for the truth and those who indulge in suppressing material facts need to be thrown out of the court."
It impugned the lower court's February 17 judgment and order, passed by the principal judge of a family court in Gautam Buddh Nagar and allowed the criminal revision petition filed by the man.
