HC stays Maytas termination agreement

The Andhra Pradesh High Court on Tuesday stayed the action of state government terminating the concession agreement of Maytas Infra limited for the proposed Hyderabad Metro Rail Project. Maytas Infra director Mr Bandaru Narasimha Rao filed the petition stating that the government forfeited the bid security amount of Rs 60 crore and bid offer amount of Rs 11 crores submitted by them.
 
He said that the government also purported to ground the project by inviting bids afresh. He contended that the action of the government was unreasonable and did not take into account the hindrances and hurdles which were beyond their control. The petitioner urged the court to declare the action of the government in cancelling the concessional agreement as illegal and prayed the court to stay all further proceedings pursuant to Bid notice issued by the Metro Rail Corporation issued on July 16.