Delhi govt refuses to participate in arbitral award payment to RInfra

The DMRC on December 15 had launched a rights issue to raise Rs 7,131 crore from its existing shareholders - the Centre and the Delhi government, which own 50 per cent of the company each

The Delhi Metro Rail Corporation (DMRC) on Wednesday said before the high court that the Delhi government will not participate in the rights issue launched by DMRC to seek equity for payment of an arbitral award of Rs 3,565.64 crore to Delhi Airport Metro Express Private Ltd (DAMEPL).

"The liability for such payment of arbitral award does not rest with GNCT of Delhi," the Delhi government told DMRC in a letter.

It also said that the shareholders cannot be held liable for payments arising out of disputes or contractual defaults.

“DMRC may raise money through the open market or via