The Delhi Metro Rail Corporation (DMRC) Thursday submitted before the Delhi High Court that its request to the Centre to bear 50 per cent of the arbitral award, passed in favour of Reliance Infrastructure-owned Delhi Airport Metro Express Private Limited, will be examined by the government in entirety for taking an informed decision.
The DMRC also informed the court that the Delhi government, being an equity holder, has asked the corporation to submit updated and complete details for considering its request to bear another 50 per cent of the arbitral award and take an appropriate decision.The submission was made by the DMRC in an additional affidavit filed in a pending application of the Delhi Airport Metro Express Private Limited (DAMEPL) which said DMRC paid it only Rs 166.44 crore on March 14 and sought a direction for payment of Rs 4427.41 crore.
Justice V Kameswar Rao is scheduled to hear the matter on Friday.The DMRC said a meeting was held under the chairmanship of the secretary of Union Ministry of Housing and Urban Affairs on November 10 to discuss the matter pending before the high court. It was attended by the Delhi Chief Secretary, Managing Director of the DMRC and representatives of leading banks.It said after detailed discussions and keeping in view the desirability of expediting the matter and having due regard to the indulgence of this court, it was decided that early decisions be pursued.
"Delhi government thus requested DMRC to submit updated and complete details for considering the request of DMRC and to take appropriate decision to bear 50 per cent of total arbitration award, being an equity holder. Delhi government further informed that after considering the proposal, the same shall require approval of the Cabinet," the affidavit, filed by DMRC General Manager (Legal) said. It further said, "Union Ministry of Housing and Urban Affairs submitted that the request of DMRC to bear 50 per cent of the total arbitration award will be examined by Government of India in entirety for taking an informed decision, being an equity shareholder of DMRC."
