The Supreme Court on Friday reserved orders on a petition filed by the Delhi Airport Metro Express Private Limited (DAMEPL) challenging a Delhi high court order refusing their claim for substantial interest on a 2017 arbitral award worth over ₹4,600 crore against the Delhi Metro Rail Corporation (DMRC).
A bench of justices L Nageswara Rao and BR Gavai reserved judgment after hearing senior advocate Harish Salve representing DAMEPL, which is operated by a consortium led by Anil Ambani’s Reliance Infrastructure Limited, and senior advocate Parag Tripathi for DMRC.
DAMEPL had gone to the Delhi high court to get the award executed, resulting in an order being passed on March 10. The high court directed DMRC to make payment of the remainder sum in terms of the May 11, 2017 arbitral award in two instalments by the end of May. However, DAMEPL claimed that the order “erroneously” rejected the decree holder claim for the outstanding interest to be added to the principal amount.
