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DMRC fails to present arbitral award payment plan despite AG's assurance in Delhi High Court
DMRC fails to present arbitral award payment plan despite AG's assurance in Delhi High Court
The DMRC has filed an affidavit before the Delhi High Court on Thursday stating that various alternatives were discussed in the high level government meeting held on November 10, for the payment of the Rs 5,000 crore arbitration award to Delhi Airport Express Metro Pvt Ltd (DAMEPL).
New Delhi: The DMRC has filed an affidavit before the Delhi High Court on Thursday stating that various alternatives were discussed in the high level government meeting held on November 10, for the payment of the Rs 5,000 crore arbitration award to Delhi Airport Express Metro Pvt Ltd (DAMEPL).
The DMRC's affidavit elaborates that in the meeting called by the Union Ministry of Housing & Urban Affairs, on November 10, where senior officials of the Delhi government, DMRC, and some leading banks were also present, the Delhi government asked the DMRC to submit complete details for deciding on payment of 50 per cent of the awarded amount by the Delhi government, which would require Cabinet approval. Meanwhile, the Centre has stated that the DMRC's request for payment of 50 per cent of the awarded sums would be examined for taking an informed decision.
The affidavit requests the court to pass orders after the outcome of the consideration by both governments is placed before the court.
Notably, the Attorney General of India, appearing for the DMRC, had assured the Delhi High Court on October 10 that he would come back with a payment plan if given two weeks' time by the court. The court then scheduled the hearing for October 31.
On October 31, senior advocate Maninder Singh, appearing for the DMRC, informed the court that the Union Ministry of Housing & Urban Affairs has scheduled a meeting on November 10 with Delhi government, the DMRC, and some banks to find a way to pay the balance amount of Rs 5,000 crore to the DAMEPL.
From the proposed submission of the payment plan in two weeks by the AG, now DMRC's affidavit has gone to the stage of appropriate consideration by both governments, which is open-ended and amounts to a U-turn from the statement made by the AG on October 10.
The affidavit does not evidence of any intention on part of the DMRC to pay the awarded amount.
The matter is coming up for hearing on Friday in the Delhi High Court.
The Delhi High Court issued its execution judgment on March 10, directing the DMRC to pay the awarded sums completely by May 31. Thereafter, the court had further directed DMRC on June 20 and September 6 to pay the entire outstanding amount. However, the DMRC has not complied with these orders.
The DMRC had already written to both the Centre and Delhi governments (being 50:50 equity-holders in DMRC) on September 6, seeking equity or other funding for the entire awarded amount, totalling Rs 7,010 crore as of September 6.
The Delhi High Court had, on September 6, directed that, if the DMRC does not pay the awarded amounts in four weeks, the court would call for the DMRC Managing Director's personal appearance.
