Delhi HC fixes Feb 13 for next hearing in DMRC-DAMEPL case, may pass order

RInfra arm says it isn't immune from insolvency, pleads for court order to DMRC to release award amount to ease pressure from banks on DAMEPL

Bhavini Mishra New Delhi
DMRC, Delhi metro

Photo: DMRC twitter

Attorney General R Venkataramani told the Delhi High Court on Tuesday that if the Union government agrees to an interest-free subordinate debt on behalf of Delhi Metro Rail Corporation (DMRC) to pay Reliance Infra, then the government of Delhi will follow suit.
In its last affidavit, the Delhi Metro Rail Corporation (DMRC) told the court that it has requested the Centre and the state government Rs 3,565.64 crore each as interest-free subordinate debt towards payment of arbitral award in favour of Reliance Infrastructure-arm, Delhi Metro Express Private Limited (DAMEPL).
The Attorney General, representing the DMRC said the corporation appreciates the court for understanding its earnest attempt to gather funds towards the payment. He said the request for the subordinate debt might just work out.

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First Published: Jan 31 2023 | 7:54 PM IST

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