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RInfra asks HC for early payment of Rs 4,670 cr arbitration award from DMRC

Under the guidelines, RInfra is expected to receive Rs 3,500 crore from its arm DAMEPL

IANS  |  New Delhi 

DAMEPL asks HC for early payment of Rs 4,670 cr arbitration award from DMRC

The Delhi Airport Metro Express (DAMEPL), a subsidiary of Infrastructure (RInfra), on Wednesday petitioned Delhi High Court for early payment of the arbitration award it has won against Rail Corporation (DMRC).

According to the company, the petition has been filed in Delhi HC under Section 9 of the Arbitration and Conciliation Act, 1996 for an early payment of the arbitration award.

Last week, the RInfra-promoted was awarded total compensation of Rs 4,670 crore by a three-member in a unanimous decision against the

"Under GOI-approved guidelines issued by vide their Office Memorandum dated September 5, 2016, PSUs are to pay 75 per cent of the award amount, even if they propose to challenge the arbitral award," the company said in a statement.

"is thus expected to receive Rs 3,500 crore as per the above guidelines," it contended.

First Published: Wed, May 17 2017. 20:43 IST
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