Swarna Shukla –
Published On: December 06, 2021 at 20:40 IST
The Delhi High Court is to hear the execution Petition of Reliance Infrastructure’s subsidiary Delhi Airport Metro Express Pvt. Limited (DAMEPL).
The Petition was filed by DAMEPL against Delhi Metro Rail Corporation ( DMRC) in ordered to get Supreme Court Order enforced, that Upheld Rs 7100 crores arbitration award in favour of the company.
The Petition was seeking an Order of execution of the award dated 11 May 2017, passed by the Arbitral Tribunal and directing the Judgment Debtor to pay to the Decree Holder a sum of Rs. 7,045.41 crores as on the date of filing of the present petition, with interest at the rate of SBI PLR +2 per cent on Rs. 4499.37 crores from 11 September 2021, till date.
The Supreme Court already dismissed the Review Petition filed by DMRC against the Apex Court order, that had upheld the Rs. 7,100 crores arbitral award entitled to Delhi Airport Metro Express Pvt Ltd. (DAMEPL).
A Bench of the Apex Court headed by Justice L Nageswara Rao had quashed the Delhi High Court order that had set aside the arbitration award in favour of DAMEPL, which had pulled out from running the Airport Express metro line over safety issues, states Petition.
The arbitral tribunal in its May 2017 award had accepted the DAMEPL’s claim that the running of operations on the line was not viable due to reasons such as structural defects.
In 2008, DAMEPL had entered into a contract with DMRC for running the airport metro line till 2038.As disputes arose between the parties, DAMEPL stopped operating the metro on the airport line and invoked the arbitration clause against DMRC alleging violation of contract and sought a termination fee.