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SC pulls up Axis, RInfra arm
Mint Mumbai
|December 12, 2024
Contempt notice issued in response to plea by DMRC, which had moved a contempt petition against DAMEPL
The Supreme Court on Wednesday issued a contempt notice to the managing directors of Reliance Infrastructure's subsidiary, Delhi Airport Metro Express Pvt. Ltd (DAMEPL), and Axis Bank, among others, for failing to refund over ₹4,500 crore, including interest, to the Delhi Metro Rail Corp. (DMRC) as part of an arbitral award that was set aside by the court in April.
The three-judge bench led by Justice Surya Kant sought a response from the Reliance Infrastructure (RInfra) subsidiary and Axis Bank on why contempt proceedings should not be initiated against them for failing to refund more than ₹4,500 crore, including interest, to the DMRC, as directed by the apex court in April.
However, the court exempted the alleged contemnors from personal appearance before the court.
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