Delhi HC grants more time to DMRC to pay Reliance Infra arbitral award
New Delhi, Oct 10 (IANS) The Delhi High Court granted time until October 31 to the Delhi Metro Rail Corporation (DMRC) to formulate a plan for the price of the arbitral award quantity to the Delhi Airport Metro Express Private Limited (DAMEPL), a Reliance infrastructure arm. Attorney-General of India R. Venkataramani apprised earlier than the…
New Delhi, Oct 10 (IANS) The Delhi High Court granted time until October 31 to the Delhi Metro Rail Corporation (DMRC) to formulate a plan for the price of the arbitral award quantity to the Delhi Airport Metro Express Private Limited (DAMEPL), a Reliance infrastructure arm.
Attorney-General of India R. Venkataramani apprised earlier than the bench of Justice V. Kameswar Rao that so that it will improve loans to pay the arbitration award to DAMEPL, the DMRC would fall right into a ‘debt lure’ and expressed the apprehension of affecting its operations.
“Millions of commuters will go through if any detrimental order is handed against DMRC,” AGI Venkataramani submitted earlier than the court docket.
Seeking trade measures, the AGI additionally stated it had asked the Centre and Delhi Government concerning the price range to make the stability fee to DAMEPL.
The DMRC has sought Rs three,500 crore each from the Centre and Delhi authorities.
As according to DMRC’s submissions, it has paid Rs 2,599.17 crore to DAMEPL out of Rs 7,010.08 crore which it owes to the Anil Ambani group firm as of September 6.
On the other hand, DAMEPL argued that every time the Delhi Metro is appearing with affidavits containing distinct critiques and ‘vague’ reasons and numerous months have exceeded now.
#DMRC has told the Delhi HC that if prayers made by Delhi Airport Metro Express Pvt. Ltd (#DAMEPL), are granted then operations would come to complete standstill, proving prejudicial to public interest. https://t.co/DuEf4AC0op
— National Herald (@NH_India) October 10, 2022
The query arises is whether they have to pay the money or not, whether or not the execution order of the arbitral award may be completed or not, DAMEPL’s counsel argued.
To this, the AGI said, there would no longer be any doubt approximately the execution of the orders and talked about the fantastic circumstances of the Delhi Metro.
Accordingly, the court docket said, to allow the DMRC come in the next operating day with clean solutions on the price and posted similarly hearing on October 31.
