DMRC assures Delhi HC it will deposit Rs 600 crore within 2 days for DAMEPL
The Delhi Metro Rail Corporation Monday assured the Delhi High Court that it will deposit Rs 600 crore within two days in an escrow account for Delhi Airport Metro Express Private Limited (DAMEPL), which had initiated execution proceedings against DMRC concerning an arbitral award of over Rs 4,600 crore in its favour.
Justice Suresh Kumar Kait took on record the statement made by DMRC’s counsel and reserved the order on the execution petition.
Senior advocate Parag Tripathi, representing DMRC, initially submitted that the corporation will pay Rs 600 crore in 72 hours and urged the court to grant some time to it to approach banks for taking the loan for paying the arbitral award amount.
