8.1 C
New Delhi
Friday, January 27, 2023
HomeNewsSupreme Court pulls up government for not abiding by arbitration awards

Supreme Court pulls up government for not abiding by arbitration awards


Expressing displeasure over how the government itself is not abiding by the arbitration awards, the Supreme Court on Monday asked attorney general R Venkataramani to give a timeline for payment of balance ₹4,520 crore that Delhi Metro Rail Corp owes to Reliance Infrastructure firm Delhi Airport Metro Express (DAMEPL).

DAMEPL, which had operated the Airport Express Line in Delhi, had sought to recover the amount towards enforcement of an arbitration award it had won in May 2017 against Delhi’s metro operator.

“On one hand, your government says that it wants to promote India as an international arbitration hub…the same government then does not abide by the arbitration award,” a bench led by Justice BR Gavai told Venkataramani who appeared for Delhi Metro. “We will have to take this seriously.”

While asking the AG to submit a schedule for repayment by Wednesday, it said the government has to be serious in honouring the arbitration awards.
Venkataramani told the bench that so far DMRC had paid ₹2,700 crore towards the award and since the central and Delhi governments are equity partners in Delhi Metro, they need to sit together to settle the issue. “The Delhi Cabinet, which was busy with the elections, can now meet. Going by the IBC way of attaching properties, one will not get anything,” he argued.

Senior counsel Harish Salve, appearing for DAMEPL, said the governments had sufficient time to meet and decide on payment issue since the SC upheld the arbitration award in September last year.



Source link

- Advertisment -
- Advertisment -

Our Archieves

- Advertisment -

Please disable your adblocker or whitelist this site!