Centre To Hold Meeting With Delhi Govt, Leading Banks To Discuss Payment Of Dues To Reliance Infra: DMRC to High Court

The Delhi High Court on Monday was told that the Union Ministry of Housing and Urban Affairs has convened a meeting of the Centre, Delhi government, DMRC and leading banks to discuss the matter related to payment of unpaid dues to Reliance Infrastructure-promoted Delhi Airport Metro Express Private Ltd (DAMEPL)."The Union Ministry of Housing and Urban Affairs vide its letter dated 28.10.2022 had informed that it has been decided by the Union Government to convene a meeting on 10th of November 2022 between the Government of India and the Government of National Capital Territory of Delhi (GNCTD) and DMRC as well as Leading Banks, to discuss the matter, pending before this Hon'ble Court in the aforesaid Enforcement Petition," the DMRC told the court in an additional affidavit filed today.The court was further told that the meeting is expected to "come out with some proposals and it is therefore, respectfully prayed that this Hon'ble Court may pass orders as deem fit, after the outcome of the same meeting is placed before this Hon'ble Court".Justice V Kameswar Rao today adjourned the matter to November 18.DMRC had earlier this month told the court that it has written to its two equity partners - the Union of India and Delhi Government, for infusion of funds to make balance payment to the DAMEPL in terms of a 2017 arbitral award. The court is hearing a petition filed by DAMEPL seeking enforcement of the arbitration award dated May 11, 2017. In 2008, DMRC had signed a contract with DAMEPL, related to "the design, installation, commissioning, operation and maintenance of the line". However, due to certain disputes, the matter went into arbitration in 2012 - the DMRC invoked the arbitration after DAMEPL terminated the agreement on certain grounds. The award in favour of DAMEPL was upheld by the Supreme Court last year.According to DMRC, it owes Rs.7,010.08 Crore to the Reliance subsidiary as on September 06. Till now, a sum of Rs.2,599.17 Crore has been paid to DAMEPL. The DMRC has sought Rs 3500 Crore each from Centre and Delhi government.Attorney General for India R. Venkataramani, appearing for DMRC, on October 10 had informed the bench of Justice Rao that since the equity partners are applying their minds to the issue, it will be in the fitness of things that no adverse order touching upon the maintenance and operations of Delhi Metro is passed by the court."Having regard to the gravity of the situation namely that anything that is done regard to the activities and operations of the Delhi Metro will have serious consequences for its current operations. Millions of commuters will simply be told you can't use Delhi metro if any adverse order is passed against Delhi metro at this point of time," Venkataramani had submitted.The AG had also referred to an additional affidavit filed by DMRC stating that if the company pursues raising of any loan, it may fall in a financial trap.The DMRC had also stated that if any adverse order is passed against the company at the present stage, its operations would come to a complete standstill, which would be prejudicial to the public interest considering that approximately 48 lakh journeys take place on a daily basis.Case Title: Delhi Airport Metro Express Private Limited v. Delhi Metro Rail Corporation Ltd.

Centre To Hold Meeting With Delhi Govt, Leading Banks To Discuss Payment Of Dues To Reliance Infra: DMRC to High Court

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Centre To Hold Meeting With Delhi Govt, Leading Banks To Discuss Payment Of Dues To Reliance Infra: DMRC to High Court

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