Supreme Court says Delhi Metro not obliged to pay ₹8,000 crore to Anil Ambani's firm

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₹8,000 crore to Anil Ambani's firm. A special bench headed by Chief Justice D Y Chandrachud on Wednesday held that the top court erred in setting aside the Delhi High Court verdict. The top court said that the DMRC was not obliged to pay over ₹8,000 crore to the Delhi Airport Metro Express Private Ltd (DAMEPL)--a subsidiary of Anil Ambani's Reliance Infrastructure firm.

The apex court said that the arbitral award caused a huge miscarriage of justice, and directed that execution proceedings in the Delhi High Court will be discontinued. Elon Musk's Tesla in talks with Reliance to set up Indian operations: Report The special bench also said that that amounts deposited by the DMRC till date shall be refunded and restored the parties to their position in which they were on the date of pronouncement of the Delhi High Court verdict. The dispute between DMRC and RInfra's subsidiary began out of a "concession agreement" in 2008 over the construction, operation, and maintenance of the Delhi Airport Metro Express Line.

Maharashtra Cabinet approves purchase of Mumbai Metro One from Anil Ambani Anil Ambani's Delhi Airport Metro Express Private Ltd (DAMEPL) terminated the agreement in 2012, saying that the DMRC did not fix the structural defects it had identified. In 2017, DAMEPL's decision to terminate the agreement was valid and won the arbitral award of ₹2,950 crore plus interest. Delhi Metro: Union Cabinet approves 2 corridors costing ₹8,399 cr. Details here With the case going on for years, the arbitrala mount with interest swelled to ₹8,009.38 crore till February 14, 2022.