CIAL shareholders oppose equity for HUDCO in Nedumbaserry airport

Kochi, Apr 8 (UNI) CIAL shareholders association's president Mathew Paul today said the Cochin International Airport Ltd, operating the country's first joint sector airport, should not give shares to HUDCO against the loan taken from the institution.

In a statement here, Mr Paul said that the value of the Rs ten shares had increased to Rs 200 now. HUDCO has told CIAL to give it shares of the company instead of the loan taken at the time of the project inception.

''If the management gives shares to HUDCO, the shareholders will lose their benefits,'' he said.

At a meeting recently, the director board of CIAL had decided to hold talks with HUDCO. The shareholders association rejected the decision to hold talks with HUDCO.

UNI