The Delhi Metro Rail Corporation Limited (DMRC) has failed to comply with the Delhi High Court order dated September 6 directing DMRC to pay Rs 4,447.56 crore to Delhi Airport Metro Express Private Limited (DAMEPL) by October 4. This amounts to a brazen violation of the Supreme Court judgment of September last year, which had upheld the arbitral award in favor of DAMEPL.
The failure of DMRC to pay the outstanding amount is also a violation of the Delhi High Court order, which stated that “it is made clear that if the amount is not paid within four weeks, the court shall be constrained to call the appearance of the Managing Director of the DMRC before this court”.
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The DMRC has not stated anything further in its attempt to arrange for a loan from banks to make payment to DAMEPL under the award. It is expected that the MD of DMRC will now be summoned by the Delhi High Court, as already stated in its order. The next hearing in this matter is slated for October 10.
It may be noted that the entire sum of Rs 4,447.56 crore is to go to the lenders of DAMEPL and its promoter company Reliance Infrastructure Ltd, most of whom are public sector banks.
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