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Take over servicing of all debt liabilities of RInfra unit: HC to DMRC

RInfra said that DMRC had been directed to pay this amount to a consortium of banks, by March 31, to ensure that no account of DAMEPL turns NPA

IANS  |  New Delhi 

Delhi Metro, DMRC

The has directed the Rail Corporation (DMRC) to take over the servicing of all debt liabilities of Reliance Infrastructure (RInfra) subsidiary (DAMEPL) amounting to Rs 16.18 billion, said on Tuesday.

The company said 11 banks, who had lent to to run the Delhi Airport Metro Express line, will benefit from the latest High Court order.

"The division bench of Justices Sanjiv Khanna and Chander Shekhar passed the interim order on the Section 37 application filed by DMRC," the Mumbai-headquartered said in a statement.

"As per the order, will have to start servicing the debt to 11 banks who had lent to the infrastructure major's subsidiary to run the

"The had challenged a March 6, 2018 single judge order upholding the Rs 53 billion arbitral award, including interest, in favour of DAMEPL," it added.

Late last month, said the had directed the to pay Rs 3.06 billan ion as immediate interim relief to the company.

said that had been directed to pay this amount to a consortium of banks, by March 31, to ensure that no account of turns a non-performing asset (NPA), or bad loan.

 

First Published: Tue, April 10 2018. 23:18 IST
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