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DAMEPL, in its fresh application, has denied any out-of-court negotiation/settlement or assignment of debt to DMRC. DAMEPL’s statement said, “The decree holder is not agreeable to settle the matter out of court. Accordingly, no alternative proposal of DMRC is acceptable to the decree holder and it seeks to be implemented at the earliest.”
The plea further said that the delay in payment by DMRC is causing huge damage to DAMEPL and its promoter, Reliance Infrastructure Limited. In the event that the relief sought is not granted, the decree holder will suffer irreparable loss and injury.
DAMEPL also mentioned the same position in the Supreme Court, in the last hearing on January 24, 2022. Following the Supreme Court’s January 24 directive, the Delhi High Court will hear the Delhi Airport Metro-DMRC case tomorrow, January 31. , in its January 24 order, stated: “The parties are directed to appear before the Superior Court on January 31, 2022 and request an adjournment of the hearing date. We request the High Court to approach the case as soon as possible and resolve the lawsuit without any further delay, because the consequences of the pending application are harmful to the interests of the petitioner as well as the defendant.”
Pursuant to this SC order, DAMEPL’s fresh application has asked the Delhi High Court to fix an earlier date in the first week of February for the final hearing and stay the execution petition.
Reliance Infrastructure gave DAMEPL Rs 2513 crore by taking loans from public sector banks and the banks initiated liquidation proceedings against the company. Any further delay in complying with the arbitral award will result in irreversible consequences for DAMEPL and Reliance Infrastructure Ltd.
The delay in complying with the arbitral award adds an additional daily interest of Rs 1.76 crore per day to DMRC and this amount cumulatively amounts to Rs 260 crore, for the period from September 10, 2021 to January 31, 2021.
Earlier, DAMEPL had filed an execution petition in the Delhi HC on September 12, 2021, seeking the court’s direction to the DMRC to comply with the SC order and pay Rs 7,200 crore to the company. DMRC, out of 7200 crores, has paid only 1000 crores so far.
On September 7, 2021, the Supreme Court (SC) confirmed the arbitration award of 7,200 kroner in favor of DAMEPL.
The Delhi High Court had earlier observed that Anil Ambani owned Reliance Infrastructure and its subsidiary, Delhi Airport Metro Express Private Limited (DAMEPL), was playing hide and seek with the court and had not come before it with clean hands.
These remarks came while Justice Suresh Kumar Kait was hearing an enforcement petition filed by DAMEPL, seeking enforcement of the Rs 7200 crore arbitration award it had obtained against the Delhi Metro Rail Corporation (DMRC). The award was confirmed by the Supreme Court.
The bench, however, said that whenever DAMEPL comes before the Court, they have a different stand as they continue to talk to DMRC outside the Court and listed the case for further hearing on March 29.
In 2008, DAMEPL entered into an agreement with DMRC to run the Airport Metro line till 2038. As disputes arose between the parties, DAMEPL stopped metro operations on the airport line and invoked an arbitration clause against DMRC alleging breach of contract and sought termination compensation.
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