Tue, 23 Jul 2019

New Delhi [India], Feb 18 (ANI): The Supreme Court has entertained a special leave petition (SLP) filed by Reliance Infrastructure's special purpose vehicle Delhi Airport Metro Express Pvt Ltd (DAMEPL) challenging the judgement of Delhi High Court, which set aside the Rs 5,800 crore arbitral award won by DAMEPL against Delhi Metro Rail Corporation (DMRC).

Reliance Infrastructure informed stock exchanges on Monday that the Supreme Court has issued a notice to DMRC in the SLP.

A short notice was also issued to DMRC on DAMEPL's plea for interim relief so that DMRC continues to service the debt of DAMEPL pending the disposal of SLP by the apex court.

DAMEPL had filed the SLP in the Supreme Court after a division bench of the Delhi High Court had set aside an order of the single judge bench upholding the over Rs 5,800 crore arbitral award in favour of DAMEPL against DMRC.

Reliance Infrastructure Ltd is one of the largest infrastructure companies, developing projects through various special purpose vehicles (SPVs) in several high growth sectors such as power, roads and Metro rail in the infrastructure space and the defence sector.

The SPVs have executed a portfolio of projects like a metro rail project in Mumbai on build, own, operate and transfer (BOOT) basis; and 11 road projects with total length of about 1,000 km on build, operate and transfer (BOT) basis.

Besides, it is a leading utility company having a presence across the value chain of power businesses, that is generation, transmission, and distribution.


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