The Divisional Bench of Delhi High Court has directed Delhi Metro Rail Corporation (DMRC) to take over servicing of all debt liabilities of Reliance Infrastructure’s (RInfra) subsidiary Delhi Airport Metro Express (DAMEPL) amounting to Rs 1,618 crore.
The division bench passed the interim order on Section 37 application filed by DMRC. As per the order, DMRC will have to start servicing the DAMEPL debt to 11 banks who had lent to the infrastructure major’s subsidiary to run the Delhi Airport Metro Express line.
The DMRC had challenged a March 6, 2018 Delhi HC Single Judge order upholding the Rs 5,300 crore arbitral award, including interest, in favour of DAMEPL.
