Hyderabad-based GVK Group appears to have got a breather in its fight to retain its stake in the Mumbai International Airport Limited (MIAL). The arbitration tribunal in its order dated Sunday, January 19th, has actually restrained South Africa’s Bidvest Group or Bid Services from transferring its stake in the MIAL to a 3rd celebration. “It is directed that pending the hearing and final disposal of the arbitration procedures, Bid Services is restrained from pushing away by way of transfer to anyone its 16.2 crore equity shares in MIAL,” the tribunal said in its order The tribunal order also stated that “the induction of a 3rd party in the affairs of MIAL would have its own repercussions and it is tough to anticipate them.” This advancement is being seen as a short-lived respite for the GVK Group and an obstacle for Adani Group. The Adani Group has been in the news for its personal offer to South Africa’s Bidvest Group, which holds a 13.5 per cent stake, and a board seat in MIAL. The Gautam Adani-led corporation has actually offered to buy Bidvest’s stake at Rs 77 per share for around Rs 1,200 crore. GVK Group has actually been battling tooth and nail to ensure that Bidvest does not offer its stake to a 3rd party. The stake in the airport service is vital for GVK Group, whose airport service revenue of around Rs 3,700 crore, comes mainly from this airport and represent a significant share of the income of its noted entity, GVK Power & & Infrastructure . Experts see one of the major destinations of the Mumbai airport is its The 60-year concession period and managed tariff structure of MIAL are its significant tourist attractions, according to experts. MIAL, which runs the airport, is on the course to profitability and is seeing excellent growth in both non-aero and freight businesses. It reported a revenue of Rs 35.4 crore in 2017-18 compared to a loss of Rs 89.7 crore in the previous year. Gross sales increased from Rs 3,025 crore to Rs 3,342 crore during the duration, according to Ace Equity information. GVK Group has maintained that it is willing to pay Bidvest the same rate it has actually been used by Adani Group (Rs 77 per share) however needs time. In February, it informed stock market that GVK Airport Holdings Ltd, a step-down subsidiary of GVK Power & & Infrastructure, has the right of very first rejection to acquire the 13.5 per cent paid-up capital from Bidvest at Rs 77 per share. This would raise the shareholding of the GVK Group from 50.5 per cent to 64 percent. ALSO READ: UDAN plan: TruJet starts everyday operations from Belagavi to Tirupati, Mysuru, Hyderabad ALSO READ: Delhi, Mumbai airports post decrease in travelers amid financial slowdown, Jet Airways crisis The Adani Group has actually been in the news for its personal offer to South Africa’s Bidvest Group, which holds a 13.5 per cent stake, and a board seat in MIAL. GVK Group has been combating tooth and nail to ensure that Bidvest does not offer its stake to a third party. GVK Group has actually kept that it is prepared to pay Bidvest the very same rate it has actually been used by Adani Group (Rs 77 per share) but needs time.