Reliance Infrastructure

Delhi Metro shareholders should step up

On March 17, the Delhi High Court handed down an order to ensure the payment of an arbitral award due for over five years

The Delhi Metro Rail Corporation on Thursday told the Delhi High Court that attachment of its statutory expenses will result in immediate stoppage of the entire Metro network in the national capital

The order said that if permission is given to DMRC it should deposit the entire amount payable along with interest within a month

The Public Private Partnership Appraisal Committee has cleared 79 projects with a total project cost of Rs 227,268.1 crore from FY15 to FY23, noted the latest Economic Survey

Tells DMRC to take permission from Centre, Delhi govt within two weeks to pay up

Says parties in the case may file written submissions by Monday

The DAMEPL counsel argued that DMRC's stance that the corporate veil cannot be lifted does not hold water since it went ahead and did just that

The court also said that the Court won't consider DMRC's future liabilities/provisions

Attaching DMRC's assets for award will bring Delhi to a halt, Centre tells HC

The Delhi High Court on Thursday was informed by the Centre that it cannot give sanction for attachment of properties of Delhi Metro Rail Corporation (DMRC)

The court also made it clear that if the Centre refused the sanction, it has to disclose the reasons for the same, so that the Court could take a view thereon

Attorney General R Venkatramani, appearing for DMRC, suggested asking GNCTD and MoHUA how they would proceed in the matter

The Delhi High Court Friday issued notice to the Union Ministry of Housing and Urban Affairs and AAP government to apprise it how the unpaid arbitral award, passed in favour of Reliance Infrastructure-owned Delhi Metro Express Private Limited (DAMEPL) and against Delhi Metro Rail Corporation (DMRC), would be paid. The Central and Delhi government are the two essential stakeholders in the DMRC, which informed the high court that despite making requisite efforts, the two stakeholders have been unable to arrive at a consensus on the ways and means in which the amount payable under the award may be liquidated. The high court impleaded the two governments as parties in the execution proceedings filed by DAMEPL seeking recovery of the unpaid portion of the arbitration award. The court noted the total amount of the award with interest till February 14, 2022 was Rs 8009.38 crore. Out of this, a sum of Rs 1678.42 crore has been paid so far by the DMRC and Rs 6330.96 crore is still due to be

Reliance Jio on Tuesday announced its partnership with Xiaomi India to offer a 'True 5G' experience to all Xiaomi 5G smartphone consumers

Transporter asks Centre, Delhi govt to infuse equity of Rs 3,500 crore each

Comment follows non-payment of Rs 4,500 cr by Delhi Metro Rail to Reliance Infra, out of a total Rs 7,200 cr in an arbitral award passed by the top court

There are public speeches on making India an international arbitration hub but the court's order not enforced, says bench

Court issues notice to DMRC, seeks reply by Dec 12

DMRC owed DAMEPL close to Rs 7,100 cr, of which it has already paid Rs 2,600 cr as of Sept 6. It now owes Rs 4,500 cr