Rs 4.5 crore refund to DMRC: Supreme Court issues notices to Reliance Infra Co, Axis Bank
Supreme Court on Wednesday sought response from Reliance Infrastructure-owned Delhi Airport Metro Express Pvt Ltd (DAMEPL), Axis Bank and their managing directors as to why contempt proceedings should not be initiated against them for failing to comply with an order to return more than ₹4,500 crore, including interest, to Delhi Metro Rail Corporation (DMRC).
DMRC had filed a contempt-of-court petition against DAMEPL and Axis Bank, accusing them of «wilfully disobeying» the court's order to refund the amount that the corporation had deposited in an escrow account against an arbitration award. The apex court had in April set aside the 2017 arbitration award.
A bench led by Justice Surya Kant, however, exempted the top brass of DAMEPL and Axis Bank from personal appearance before it.
While scrapping the arbitration award of about ₹8,000 crore that DAMEPL had won against DMRC, the top court had also ordered a refund of the amount that the state-run corporation had deposited in an Axis Bank escrow account as per a Delhi High Court direction.
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