New Delhi: In a major boost to Delhi Metro Rail Corporation (DMRC), Delhi high court on Tuesday set aside an arbitration award of over Rs 3,000 crore, payable to a Reliance Infrastructure subsidiary involved in Airport Express Line.
A bench of justices Sanjiv Khanna and Chander Shekhar reversed an earlier ruling where the single judge had upheld the arbitration award and directed DMRC to pay the money to Delhi Airport Metro Express Private Limited (DAMEPL).
Partly allowing the appeal by DMRC, HC said it will be open to both parties to again go in for an arbitration. A detailed copy of the order is awaited.
HC’s verdict on Tuesday came on an appeal filed by DMRC challenging the single judge order and seeking to set aside the award passed against it in May 2017.
In its plea, DMRC maintained that the original termination notice of October 2012 by which the concessionaire DAMEPL ended its agreement and exited the project, was illegal, against the provisions of the concession agreement, and void.
16/01/19 Times of India
To Read the News in full at Source, Click the Headline
A bench of justices Sanjiv Khanna and Chander Shekhar reversed an earlier ruling where the single judge had upheld the arbitration award and directed DMRC to pay the money to Delhi Airport Metro Express Private Limited (DAMEPL).
Partly allowing the appeal by DMRC, HC said it will be open to both parties to again go in for an arbitration. A detailed copy of the order is awaited.
HC’s verdict on Tuesday came on an appeal filed by DMRC challenging the single judge order and seeking to set aside the award passed against it in May 2017.
In its plea, DMRC maintained that the original termination notice of October 2012 by which the concessionaire DAMEPL ended its agreement and exited the project, was illegal, against the provisions of the concession agreement, and void.
16/01/19 Times of India
0 comments:
Post a Comment