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DMRC not obliged to pay ₹8,000 crore to Reliance Infra subsidairy, says SC
The Morning Standard
|April 11, 2024
IN a big relief to the Delhi Metro Rail Corporation (DMRC), the Supreme Court on Wednesday, in its verdict reversed its previous decision that mandated the PSU to pay an arbitration award of ₹8,000 crore to Delhi Airport Metro Express Private Limited (DAMEPL), a subsidiary of Reliance Infrastructure.
While allowing the curative plea filed by the DMRC, a bench of the top court, headed by CJI DY Chandrachud, said that the arbitral award suffered from illegality and also saddled a public utility with a huge liability.
The court added that the arbitral award caused a huge miscarriage of justice.
The top court effectively restored a judgment rendered by a Division Bench of the Delhi High Court which had ruled in favour of DMRC before the Supreme Court had set aside the same in September 2021.
Esta historia es de la edición April 11, 2024 de The Morning Standard.
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