A meeting among senior officials of Delhi government, the Centre, Delhi Metro Rail Corporation (DMRC) and leading banks is slated to be held on Thursday, to discuss modalities on payment of the balance arbitral award to the Reliance Infrastructure-owned Delhi Airport Metro Express Private Limited.
The managing director and director (finance) of the DMRC and representatives of several banks are expected to take part in the meeting to be held at Nirman Bhawan, they said.
The DMRC on October 31 had told the Delhi High Court that a meeting with the Centre and the city government was scheduled to discuss modalities on payment of the balance arbitral award to the Delhi Airport Metro Express Private Limited (DAMEPL).
The DMRC told the court that the meeting is fixed for November 10 and some proposals are expected to come out of it.
The high court was hearing an application from the DAMEPL which said the DMRC has paid it only Rs 166.44 crore on March 14.
The DAMEPL has also sought direction to the corporation for a payment of Rs 4427.41 crore by attachment of its bank accounts and fixed deposits. The interest continues to apply till the date of actual payment by the DMRC, it said.
In September, the high court had granted four weeks to the DMRC to make outstanding payment in relation to the arbitral award, failing which it would be “constrained” to call for the appearance of the DMRC’s managing director.
On March 10, the high court had directed the DMRC to pay the over Rs 4,600 crore arbitral award along with interest to DAMEPL in two equal installments within two months.
The first and second installments were to be paid on or before April 30 and May 31, respectively.
The direction had come on DAMEPL’s execution petition filed against the DMRC over the arbitral award passed in its favour on May 11, 2017.
An arbitral tribunal had ruled in favour of DAMEPL, which had pulled out from running the Airport Express metro line over safety issues, and accepted its claim that running the operations on the line was not viable due to structural defects in the viaduct through which the train would pass.
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