Delhi Metro | DMRC loses case against DAMEPL (Reliance Infra) in Delhi High Court
New Delhi: Reliance Infrastructure owner of Delhi Airport Metro Express Private Limited (DAMEPL) won its case against the Delhi Metro Rail Corporation (DMRC) in the Delhi High Court on Tuesday. According to DAMEPL, “The Delhi High Court has upheld the arbitration award of Rs 2,950 crore as compensation along with interest to Delhi Airport Metro Express Private Limited (DAMEPL), a subsidiary of Reliance Infrastructure Limited (RInfra), by a three-member Arbitration Tribunal. Reliance Infrastructure stands to get Rs 5,060 crore from the award, which it would entirely utilise to reduce its consolidated debt. This amount is arbitration award amount plus interest till March 31, 2018.” Delhi High Court has directed DMRC to deposit Rs 3,502 crore in escrow account within four weeks. “Now that the Delhi High Court has upheld the award by the arbitration tribunal, we expect the compensation to be paid expeditiously, which we shall utilise to retire the outstanding debt of ...