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NEW DELHI : The Delhi Metro Rail Corporation (DMRC) has filed a fresh affidavit in the Delhi High Court comprising its balance sheet (FY 20-21) and details of all bank accounts and fixed deposits.
The affidavit has been filed in connection with Reliance Infrastructure subsidiary, Delhi Airport Metro Express Pvt Ltd.’s plea in the court for the execution of an arbitral award of over ₹4,600 crore against it.
The court on Monday directed DMRC to give details of funds in its bank account and fixed deposits as of date. The court also directed DMRC to share its balance sheets details of bank accounts including fixed deposits and income tax returns for the year 2021.
The matter will be next heard on February 17, 2022 by the court.
A DMRC spokesperson refused to comment on the matter saying that it was sub-judice. Reliance Infrastructure also did not comment on the matter.
An arbitral tribunal in its May 2017 award had ruled in favour of DAMEPL, which had pulled out from running the Airport Express metro line over safety issues, and accepted its claim that the running of operations on the line was not viable due to structural defects in the viaduct through which the train would run.
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. In its earlier hearing on December 6, the Delhi high court had directed DMRC to deposit ₹1,000 crore in an escrow account. According to DAMEPL’s execution petition, ₹2,945 crore is the principal amount, while the remaining ₹4,305 crore is the pre-award and post-award interest.
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