The Delhi High Court on Friday ordered the Delhi Metro Rail Corporation (DMRC) to pay the 2017 arbitral award dues with interest to Reliance Infrastructure (RInfra) arm, Delhi Airport Metro Express (DAMEPL), within a month.
In a 133-page judgment, the court directed the Centre and the Delhi government to attend to DMRC’s request for extension of sovereign guarantees or subordinate debt to help it pay its liabilities under the award. The Central and Delhi governments each hold 50 per cent shares in the DMRC.
“The Union Ministry (of Housing and Urban Development) and GNCTD (Government of National Capital Territory of Delhi) shall forthwith attend to the requests of the DMRC for extension of sovereign guarantees/subordinate debt enabling it to liquidate its liabilities under the award.
