Live
- PV Sindhu Centre for Badminton and Sports Excellence to come up in Visakhapatnam
- National Cancer Awareness Day: A Comprehensive Guide to Cancer Screenings — Which Tests Are Required and When
- Supreme Court orders liquidation of Jet Airways
- Hema Committee report: Kerala HC appoints amicus curiae to assist Govt in framing policies for women
- Mahindra clocks 13 pc jump in Q2 net profit as SUV, tractor sales surge
- India’s nutraceutical industry eyes global growth with support from Ayurveda: Centre
- Centre doubles penalty for stubble burning amid rising air pollution in Delhi-NCR
- Govt to give facelift to GGH, boost infra in PHCs
- No Uranium mining in Kappatralla village, Collector assures residents
- Fire erupts at private hospital in Nandyal, no casualties
Delhi govt not inclined towards payment of dues: DMRC to HC
Delhi govt not inclined towards payment of dues: DMRC to HC
The DMRC on Wednesday notified the high court that the Delhi government is not inclined to contribute towards the payment of unpaid dues of arbitral award to Delhi Airport Metro Express Private Ltd (DAMEPL), promoted by Reliance Infrastructure.
New Delhi: The DMRC on Wednesday notified the high court that the Delhi government is not inclined to contribute towards the payment of unpaid dues of arbitral award to Delhi Airport Metro Express Private Ltd (DAMEPL), promoted by Reliance Infrastructure.
The Delhi government has claimed that it is not inclined to offer Rs 3565.64 crore towards equity for payment of the arbitral sum with interest, according to the affidavit filed by the Delhi Metro Rail Corporation (DMRC).
Before a single-judge bench Yashwant Sharma, the Central government and DMRC, represented by Attorney General R. Venkataramani, informed the court that the issue was being actively considered and deliberated by the relevant authorities, and that they anticipated a resolution by January 16.
The court listed the matter for next hearing on January 19.
The Delhi government stated that the shareholders cannot be held accountable for payments resulting from disputes or contractual defaults in its statement to the DMRC.
The DMRC informed the court that it may obtain funding to cover this liability through the open market, externally aided funds, or a loan from the Government of India.
The court is addressing a petition submitted by DAMEPL seeking enforcement of the arbitration award dated May 11, 2017. DMRC and DAMEPL entered into a contract in 2008 for the design, installation, commissioning, operation, and maintenance of the line.
The Supreme Court on December 14, 2022, also told Venkataramani, "we should not repeat again that on one hand, you give speeches everywhere that India should be a model arbitration hub", as it pulled up the Centre for its failure to pay an arbitral award for Rs 4,500 crore following a lawsuit filed by Reliance Infra against the DMRC.
