Delhi HC grants time to DMRC to pay remaining arbitral amount to DAMEPL
The Delhi High Court on Monday granted time to Delhi Metro Rail Corporation till August 5, after noting that it has called for a proposal from banks for the loan so that it can pay the remaining Arbitral Award amount to Delhi Airport Metro Express Private Limited (DAMEPL).
Justice V Kameswar Rao granted time to DMRC after hearing the submission of the application moved by DAMEPL seeking enforcement of the arbitration award of May 11, 2017. Now the matter has been listed for August 16 for further hearing.
DMRC’s Counsel told the bench that it expects to process the bids of the banks by July 10 and sign the loan documents by August 15.
