Munmun Kaur
Published On: January 12, 2022 at 12:15 IST
The Delhi High Court, on January 11 slammed Delhi Airport Metro Express Private Limited (DAMEPL) for its parallel talks with Delhi Metro Rail Corporation (DMRC) regarding the execution of more than Rs 4600 Crore arbitral award. Meanwhile the Court observed that DAMEPL was not fair to the Court despite having won the arbitral award.
The Court was hearing the application filed by DAMEPL claiming that DMRC was deliberately delaying the execution of the arbitral award. Senior advocate Parag Tripathi, appearing for DMRC submitted that DAMEPL wrote to DMRC on December 30, 2021 asking when they will be ready to take over its debt to which they had sought full disclosure of the amount of its liabilities. He further submitted that DMRC was ready to take over the liabilities up to the extent of the award money as it would be in better position to negotiate with the lender banks but the offer was rejected by DAMEPL.
Justice Kait, hearing the matter observed that since DAMEPL counsel on one hand is making submissions in the Court and simultaneously communicating with DMRC to settle outside the Court, it has not approached the Court with clean hands and to re notify on March 29. He further said, “If you are settling the dispute outside the court, why are you wasting the court’s time? Don’t communicate with them when the matter is before the court. If you want to, then withdraw the case. I will throw out your case”.
On the other hand, Advocate Prateek Seksaria, appearing for DAMEPL claimed that DMRC was not disclosing the whole issue. He argued that DMRC was meeting with DAMEPL’s lenders on outstanding loans to banks behind its back because of which they wrote a letter to DMRC. He further added that DMRC’s offer was unacceptable to DAMEPL as they do not plan to settle the dispute in this fashion.
Earlier, DMRC had stated that since the corporation was facing a financial crunch and undertaking sudden liability would not be in public interest. Therefore, the authorities were working to find a solution. They have further claimed that actual amount to be paid was much lesser than the DAMEPL’s claim.
