New Delhi: In some respite to Delhi Metro Rail Corporation (DMRC), the Delhi High Court on Tuesday extended the date of payment to Reliance Infrastructure towards the arbitral award in connection with the Delhi Airport Metro Express Line till October 31. DMRC owes a sum of Rs.7,010.08 Crore to the Reliance subsidiary.
The DMRC owes Rs.7,010.08 Crore to the Reliance subsidiary in connection with the Delhi Airport Metro Express Line. The HC in September directed the DMRC to repay the loan within 4 weeks. The DMRC is seeking help from the Centre asking for a sum of Rs 3,500 crore each from the Centre and the state government in the form of a grant or equity interest-free subordinate debt.
In an affidavit filed before the high court, DMRC said, “It is respectfully submitted that if any of the prayers as prayed for by the decree-holder are granted by this court, at this juncture, the operations of the DMRC would come to a complete standstill, which would be prejudicial to the public interest – considering that approximately 48 lakh journey’s take place daily on the metro system maintained by DMRC in the NCR.”
The court posted the matter for October 31 so that DMRC can place the modalities for payment.