DMRC incurring additional interest of `680 crore due to delay in executing SC decree
The Delhi Metro Rail Corporation (DMRC) is incurring an additional interest burden of Rs. 680 crores due to a 19-month delay in executing a Supreme Court decree. As of March 31, 2023, the total amount owed to Delhi Airport Metro Express Pvt Ltd (DAMEPL) stands at Rs. 4675 crores. The hearing on DMRC’s Review Petition is scheduled for March 29, 2023.
Earlier, on March 17, 2023, the Delhi High Court ordered DMRC, along with the Government of India and the Delhi Government, to ensure payment of the remaining amount under the Award to DAMEPL at the earliest. The Court directed both governments to provide a sovereign guarantee or subordinate debt to DMRC by March 31, 2023, so that DMRC could pay the entire amount to DAMEPL by April 30, 2023.
