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SC admits RInfra minor's plea challenging HC order favouring DMRC
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SME Times News Bureau | 18 Feb, 2019
RInfra on Monday said that the Supreme Court has admitted a Special
Leave Petition (SLP) filed by its subsidiary challenging a Delhi High
Court order that set aside an over Rs 5,800 crore arbitral award won by
the RInfra minor against the Delhi Metro Rail Corporation (DMRC).
In
2018, the High Court had directed the DMRC to take over the servicing
of all debt liabilities of Delhi Airport Metro Express Pvt Ltd (DAMEPL).
Reliance
Infrastructure (RInfra) had said that 11 banks, who had lent to DAMEPL
to run the Delhi Airport Metro Express line, would benefit from the High
Court's order.
Noting the apex court's entertaining the SLP, a
RInfra release said a short notice was also issued to the DMRC on
DAMEPL's plea for interim relief, so that the DMRC continued to service
the debt of DAMEPL, pending the plea disposal by the apex court.
"The
Supreme Court has entertained the Special Leave Petition (SLP) filed by
Reliance Infrastructure Ltd., SPV Delhi Airport Metro Express Pvt Ltd
(DAMEPL) challenging the judgement of Division Bench of Delhi High
Court, which set aside the over Rs 5,800 crore arbitral award won by
DAMEPL against DMRC," it said.
The DAMEPL had moved the apex
court after the High Court had set aside the over Rs 5,800 crore
arbitral award won by DAMEPL against DMRC.
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