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The Delhi High Court has ordered the Delhi Metro Rail Corporation Ltd (DMRC) to pay Rs 6,330 crore to a subsidiary of Reliance Infrastructure Ltd in accordance with an arbitration award made in 2017.
Following the development, shares of Reliance Infra touched an upper end of 10 percent at Rs 122.40 on Friday. On Thursday, the payment was Rs 111.30.
The BSE barometer and benchmark Sensex were trading up 182.51 points or 0.33 percent at 55,646.90 at the time of writing.
Delhi Airport Metro Express (DAMEPL), promoted by Reliance Infra, has moved the Delhi High Court seeking enforcement of a 2017 arbitration award passed in its favor on the Delhi Airport Metro Express line.
After factoring Rs 1,678 crore already paid by DMRC, the dues claimed by Reliance Infra, including interest on the arbitration award, was Rs 6,330 crore.
DAMEPL recently filed a fresh application asking the Delhi High Court to direct DMRC to deposit Rs 6,208 crore available in various bank accounts to the project’s escrow account without delay.
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