Reliance Infrastructure-led Delhi Airport Metro Express Private Limited (DAMEPL) informed the Delhi High Court Tuesday that the argument that the corporate veil of Delhi Metro Rail Corporation (DMRC) cannot be lifted in the execution of the 2017 arbitral award to DAMEPL for paying unpaid dues cannot be made.
Appearing for DAMEPL, senior advocate Kapil Sibal submitted before a single judge bench of Justice Yashwant Varma that on March 10, 2022, a single bench of the High Court had noted that as per DMRC’s affidavit of February 14, 2022, the total funds available with the corporation under the head ‘total DMRC funds’ is Rs 1,452.10 crore; under the head ‘total project funds’ is Rs 2,681.29 crore; and under the head ‘total other funds’ is Rs 1,560 crore.
