Reliance Infrastructure’s subsidiary - Delhi Airport Metro Express (DAMEPL), has filed a petition in the Delhi High court under Section 9 of the Arbitration and Conciliation Act, 1996 for an early payment of the Arbitration award.
Reliance Infra promoted DAMEPL was awarded total compensation of Rs 4,670 crore by a three member Arbitral Tribunal in a unanimous decision last week against the Delhi Metro Rail Corporation (DMRC).
Under GOI approved guidelines issued by Niti Ayog vide their Office Memorandum dated September 5, 2016, PSUs are to pay 75% of the award amount, even if they propose to challenge the arbitral award. Reliance Infrastructure is thus expected to receive Rs 3,500 crore as per the above guidelines.
