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The key players in this dispute are M/s Reliance Airports Developers Pvt. Ltd. (in short RAL), Airports Authority of India (in short AAI), Government of India (in short GOI), GMR Infrastructures Ltd. (in short GMR), GVK Industries Ltd. (in short GVK).

Background facts sans unnecessary details are as follows:

As a part of the GOIs avowed policy of privatization of strategic national assets, the first step appears to be privatization of two airports i.e. Mumbai and Delhi on a joint venture basis. In March, 2003 AAI initiated process to consider modernization of Delhi and Mumbai Airports on the basis of an earlier decision taken on January 12, 2000 by the Union Cabinet relating to re-structuring of airports of AAI through long term leasing route. On 11.9.2003 the GOI approved restructuring of airports of Mumbai and Delhi through joint venture (shortly called JV) route and constituted Empowered Group of Ministers (in short EGOM) to decide the detailed modalities including design parameters, bid evaluation criteria etc. based on which JV partners were to be selected. It was required to submit the final proposal for Governments approval. An Inter Ministerial Group (in short IMG) was set up to assist EGOM for re-structuring of two airports. The same was set up under the Chairmanship of Additional Secretary-cum-Financial Adviser of Ministry of Civil Aviation. Subsequently, on 15.6.2004, EGOM was re-constituted under the Chairmanship of Minister of Defence. On 12.10.2004 IMG was re-constituted under the Chairmanship of Secretary, Ministry of Civil Aviation. On the basis of recommendations made by IMG, EGOM approved appointment of Global Technical Adviser, Legal Consultant and Financial Consultant (called GTA, LC & FC in short respectively). They were Airport Planning Ply Ltd., Amarchand, Mangaldas & Suresh A. Shroff & Co. and ABN AMRO Asia Corporate Finance (I) Pvt. Ltd (in short Airplan, AMSC and ABN AMRO respectively). The Consultants prepared the Invitation To Register An Expression of Interest (shortly called ITREOI) and the same was endorsed by IMG.

On 31.1.2006 Executive Director of AAI informed RAL that GMR would be given a choice of the two airports and whichever airport it chooses, it would be required to match the higher financial bid. On that day itself, RAL wrote to the AAI alleging change of procedure and protesting against the same. Later on, the financial bids were opened that day. A report was submitted by the Committee opening the financial bids. RAL again wrote to the members of the EGOM alleging illegalities in consideration of the bids. On the next day again RAL wrote to the members of the EGOM regarding the events that had transpired during the opening of bids. AAI wrote to RAL setting out the procedure followed while opening and evaluating the financial bids.

 An Information Memorandum for the Airport;  Draft Transaction Documents for the Airport (open for discussions before finalising the terms and conditions);  Specialist Reports and AAI data substantially in CD ROM form with some documents in hard copy form for the Airport.
AAI may choose to update, vary or add to all or some of this information (including this RFP) at any time during the Transaction process.
A separate document will be provided to PQB outlining the times, dates and venues of their scheduled meetings with the AAI, the Airport management team and parties of the GTT, as relevant and necessary.
 the Operations, Management and Development Agreement will be for an initial period of 30 years with the JVC having the right to extend this by a further 30 years, in accordance with the terms and conditions of the Transaction Documents.
 the Successful Bidder will have an initial 74% equity interest and AAI, along with other GOI Public Sector Entities, will have 26% equity interest in the JVC.  AAI will endeavor to contribute (without any binding commitment) equity funds in cash in proportion to its equity share to assist the JVC in funding working capital and major developments upto a cap of Rs.5000 million (Rupees five thousand million) for the Airport. It is AAIs intention to maintain 26% equity share capital in the JVC.