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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
DMRC-DAMEPL dispute: Comply with order or face coercive action, SC to DAMEPL, Axis Bank officials
Supreme Court on Monday said its verdict on the DMRC-DAMEPL dispute of last year needs to be followed in letter and spirit or it will be bound to take coercive measures against the concerned officials of the private firm and Axis Bank. A bench of Justices Surya Kant and N Kotiswar Singh told Delhi Airport Metro Express Private Limited (DAMEPL) and Axis Bank, «What is the need to play hide and seek? When there is judgement, you need to comply with it in letter and spirit.»
Senior advocate Abhishek Singhvi, appearing for the Axis Bank, said it was not party to the dispute for six years and now suddenly he is receiving a contempt notice for payment.
The bank was only operating the escrow account in the dispute, he said.
The bench also said that it was not concerned with the claim and counterclaim of the bank.
The bench, which adjourned the matter, said it is advising the respondents, including DAMEPL, to comply with the judgement in letter and spirit.
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