Delhi Metro Rail Corporation (DMRC) Monday told the Delhi High Court that it would deposit within 48 hours Rs 1,000 crore in an escrow account towards an arbitral award of over Rs 4,600 crore in favour of Delhi Airport Metro Express Private Limited (DAMEPL).
DMRC also suggested taking over the Reliance Infrastructure subsidiary’s debt to the extent of the award money.
Solicitor General Tushar Mehta, representing DMRC, stated that since the corporation was facing a “financial crunch”, undertaking a “sudden liability” would impact public interest and authorities were therefore working out a solution.
The senior law officer also said that as per their calculation, the amount liable to be paid was approximately Rs 5,000 crore which was lesser than DAMEPL’s claim.
