RInfra case: Delhi HC grants DMRC four days to file reply

Delhi Airport Metro Express petitioned Delhi HC for early payment of arbitration award

The Delhi High Court on Friday granted four days time to the Delhi Metro Rail Corporation (DMRC) to file its reply in the RInfra case, according to sources.

The next hearing will be on May 29, 2017.

The high court said it will dispose off the matter before vacations starting on June 1, 2017 in view of the huge interest burden on the petitioner.

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

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

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

"Under GOI-approved guidelines issued by Niti Aayog vide their Office Memorandum dated September 5, 2016, Public Sectir Undertakings (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.

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