Delhi HC grants more time to DMRC to pay Reliance Infra arbitral award

The Delhi High Court granted time till October 31 to the Delhi Metro Rail Corporation (DMRC) to formulate a plan for the payment of the arbitral award amount to the Delhi Airport Metro Express Private Limited (DAMEPL), a Reliance infrastructure arm.

Attorney-General of India R. Venkataramani apprised before the bench of Justice V. Kameswar Rao that in order to raise loans to pay the arbitration award to DAMEPL, the DMRC would fall into a ‘debt trap’ and expressed the apprehension of affecting its operations.

“Millions of commuters will suffer if any adverse order is passed against DMRC,” AGI Venkataramani submitted before the court.