President Waheed said that there was problem in the contract right from the beginning.
India warned Maldives that recourse to any such action would have adverse consequences for bilateral relations.
Maldives on Tuesday asserted that it would go ahead with the takeover of the Male International Airport from GMR later this week.
The High Court of Singapore suspended the Maldives government's decision last week to terminate the $500 million contract.
The External Affairs Minister said that he hopes the issue doesn't cause bitterness between the two countries.
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