The arbitration tribunal has restrained Bidvest from the transfer of its 13.5% stake in Mumbai International Airport Pvt. Ltd. (MIAL) to the bidder Adani. The hearing stated that no transfer will take place until the final disposal of Arbitration proceedings is complete. The supreme court of India earlier gave green light to the transaction and the arbitration panel was tasked to do hearing for the matter. The other joint venture partner of Bidvest, GVK has been able to satisfy all the parameters required for the grant of an interim direction in its favor resulting in restain to the transaction. 

Mumbai International Airport Pvt. Ltd. (MIAL) was awarded the mandate of modernizing and upgrading Mumbai’s Chhatrapati Shivaji Maharaj International Airport (CSMIA) in February 2006. CSMIA is one of India’s busiest airports having recorded passenger traffic of 36.63 million in 2014-15, along with cargo traffic of 694,261 tonnes.