BUSINESS

Delhi High Court Dismisses Delhi Metro’s Plea For Refund Of Rs 678 Crore Paid To Reliance Infra Lenders


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Delhi Metro's Plea For Refund Of Rs 678 Crore Paid To Reliance Infra Lenders Rejected

DMRC had filed a Restitution Application in February 2019 in Delhi HC.

Delhi High Court on Friday dismissed the Restitution Application of Delhi Metro Rail Corporation (DMRC) that sought a refund of Rs. 678 crore paid by the corporate to the lenders of Delhi Airport Metro Express Pvt. Ltd, (DAMEPL), a subsidiary of Reliance Infrastructure Limited, in 2018. A Division Bench of Justices Vipin Sanghi and Jasmeet Singh dismissed the DMRC plea.

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“Learned counsel for the appellant states that the Supreme Court has dismissed the Review Application preferred in Civil Appeal No. 5627/2021 read with Civil Appeal No. 5628/2021 in respect of the order dated09.09.2021. Consequently, this application does not survive. The same is, accordingly, dismissed,” the court docket stated.

This cash was paid by DMRC to the lenders of Delhi Airport Metro Express Pvt Ltd (DAMEPL) pursuant to the order of Delhi High Court Single Judge Bench that had upheld the Rs. 47,00 crore arbitration award in favour of DAMEPL.

In January 2019, the Division Bench of Delhi High Court, whereas setting apart the Arbitration Award, had allowed DMRC to file an attraction in opposition to the Single Judge Bench’s order of May 2018 and likewise allowed DMRC to hunt a refund of Rs. 678.42 crore paid by the corporate to DAMEPL’s lenders occasionally,

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To declare the refund, DMRC had filed a Restitution Application in February 2019 in Delhi HC. The Supreme Court just lately upheld a 2017 arbitration award that made Delhi Metro Rail Corporation (DMRC) liable to pay damages of round Rs 2,800 crore with curiosity to Reliance Infrastructure Ltd.

Reliance Infrastructure’s unit had in 2008 entered right into a mutual contract with Delhi Metro for operating the nation’s first personal metropolis rail venture until 2038. As disputes arose over charge and operations in 2012, Ambani’s agency stopped working the capital’s airport metro venture and initiated an arbitration case in opposition to Delhi Metro alleging violation of contract and sought a termination charge.

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The arbitration was earlier challenged within the Delhi High Court. Reliance Infra had then challenged this choice of the two-judge bench of the Delhi High Court earlier than the Supreme Court. The prime court docket has now put aside the Delhi High Court order and requested the DMRC to honour the arbitral award.

The Supreme Court has additionally dominated that this quantity of Rs 2,800 crore might be paid again to the corporate with the curiosity accrued over a interval of eight years. This cash might be given by Delhi Metro Rail Corporation Limited to Reliance Infrastructure.


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