As per the arbitral award, Bhiwandi Nizampur City Municipal Corporation has been directed to pay ₹61.44 crore as the principal amount to PSP Projects.
The ₹647.22 crore City Side Development project at Ahmedabad Airport was awarded by Adani Airport Holdings Ltd with completion in 18 months.
Adani Infrastructure will buy the shares from Prahladbhai S Patel, PSP Projects' CEO and largest shareholder.
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