New Delhi: The Delhi High Court on Monday direct Delhi Metro Rail Corporation (DMRC) to provide details of funds in bank accounts and deposits remain on the date of regarding the Reliance infrastructure application for the implementation of the arbitration award from Rs 4,600 Crore against it.
Justice Suresh Kumar Kait, who heard the execution petition by Delhi Airport Metro Express Private Limited (Damepl), also directed the corporation to share the balance sheet about 2021 as well.
The court also asked the parties to submit their written submission and registered this problem for further hearing on February 17.
The Arbitration Court in May 2017 has decided to support Damepl, which has been pulled out of the Metro Express lane above safety.
Problems, and receive their claims that operating operations on the line is not feasible because of structural defects on the bridge through which the train will run.
Senior Advocate Parag Tripathi, appears for DMRC, saying that there is a sincere dispute in connection with the amount of debt according to them, after the previous payment of Rs 1,000 Crore, only RS 3305 Crore is left compared to the claims of Damepl Hospital.
6305 Crore.
Senior lawyers say that the amount lying on the DMRC account is intended for several other projects and goals and not their own money that can be given under the law.
In the affidavit submitted earlier this month, DMRC said that he had around Rs 1,478 Crore as “DMRC funds” and around Rs 2668 Crore and RS 1561 Crore as “project funds” and “other funds”.
“The Crore RS 2670 is for the development of phase III and phase IV and RS 1561 Crore which for the development of Metro in Patna, Maharashtra, etc.
Not the money owned by me or where I have thrown out power,” Senior lawyer said.
Tripathi emphasizes that the DMRC has 14,000 employees and it runs on a monthly net loss around Rs 100 Crore.
He also stated that Metro’s assets could not be attached under Section 89 of the Act Railways Metro (Operation and Maintenance), 2002.
Senior Advocate Rakesh Kumar Khanna, appeared for Damepl, claiming that the corporation hid the correct financial position from the court and it was thousands of crores rupees Lying in a fixed deposit, time deposits, and as equity on the stock market, etc.
“They have money.
This center is 50 percent of shareholders and companies can’t pay the obligation of Rs 6300 Crore?” He asked.
On January 24, the Supreme Court has asked DMRC and Damepl to ask the High Court to hear disputes related to the implementation of the arbitration award, saying that further delays are detrimental to the interests of the two parties.
Last year, the DMRC had told the court that because the corporation faced a “financial crisis”, conducting “sudden liabilities” would have an impact on public interest and authority because it worked on solutions.
It is said that it will deposit RS 1,000 Crore for Damepl on an escrow account and suggest taking over the debt of the subsidiary of dependence on the extent to which the award money, said that it would be a better position to negotiate with lenders.
bank.
But the offer was rejected by Damepl and the court had observed that if the decree did not want to accept the proposal, it could not be forced to do it.
The previous high court also attracted Damepl to play hide and seek with a court and conduct communication outside the court with DMRC to resolve disputes related to the execution of the arbitration award from the PSU.
Awards related to the concession agreement between the two entities, which were signed on August 25, 2008.
Based on the agreement, the DMRC was to carry out civil work, not included in the depot, and balance, including project system work, was to be executed by Damepl, Rinfra joint venture and the Spanish construction company – Construction of Y Auxiliar de Ferrocarles – with ownership of each of the respectively 95 and five percent.