SC upholds Delhi HC order directing DMRC to pay arbitral award to DAMEPL

1. Downloaded from: justpaste.it/8l3at SC upholds Delhi HC order directing DMRC to pay arbitral award to DAMEPL The high court on March 10 had directed the DMRC to pay over Rs 4,600 crore of arbitral award along with interest to DAMEPL The Supreme Court on Thursday upheld a Delhi High Court order directing the Delhi Metro Rail Corporation (DMRC) to pay over Rs 4,600 crore of arbitral award along with interest to the Delhi Airport Metro Express Private Limited (DAMEPL) in two equal installments in two months. The order was passed by a bench of Justices L Nageswara Rao and B R Gavai. The high court on March 10 had directed the

2. DMRC to pay over Rs 4,600 crore of arbitral award along with interest to DAMEPL. The court had said the first and second instalments shall be paid on or before April 30 and May 31 this year. The high court's judgement had come on DAMEPL's execution petition filed against DMRC concerning the arbitral award in its favour. It had said the May 11, 2017 arbitral award has attained finality and cannot be allowed to remain as a paper award and added that judgment debtor DMRC is duty bound to either divert its funds after seeking permission of the central government, if necessary, or raise loans to satisfy the award...Read More