Premium| Listen to this article |
NEW DELHI : In the ongoing court battle between Reliance Infrastructure subsidiary, Delhi Airport Metro Express Pvt. Ltd. (DAMEPL) and Delhi Metro Rail Corporation (DMRC) over an arbitration dispute, DMRC has filed a fresh affidavit in the Delhi High Court.
The affidavit details all the banks accounts and funds worth Rs. 6,208 crores lying in those accounts.
DMRC’s fresh affidavit comes after DAMEPL filed an application in the Delhi High Court on January 7, stating that DMRC was in contempt of the court’s last order. DMRC had failed to disclose the details of their bank accounts and funds in the accounts despite the HC’s direct orders.
According to the new affidavit, DMRC has Rs.6,208 crores of funds in their various bank accounts as on January 3, 2022.
A DMRC spokesperson refused to comment on the matter saying that it was sub-judice. Reliance Infrastructure also did not comment on the matter.
DMRC has to pay Rs. 6,268 crores to DAMEPL as a part of the Supreme Court’s Rs. 7,200 money decree. The organization has deposited Rs.1,000 crores in the escrow account of Delhi High Court.
DMRC’s previous affidavit was filed in the Delhi HC on January 5, 2022 which made a partial/limited disclosure of Rs.1,642 crores’ worth of funds.
DAMEPL had entered in a contract with DMRC in 2008 for running the airport metro line till 2038. After the early termination of this contract and protracted litigation, DAMEPL won a Supreme Court case against DMRC on the issue of termination of the concession agreement last December.
Never miss a story! Stay connected and informed with Mint. Download our App Now!!