In a major victory for Reliance Infrastructure’s arm, Delhi Airport Express Metro (DAEML), the Delhi High Court on Thursday asked Delhi Metro Rail Corporation (DMRC) to pay the balance arbitration award amount of around Rs 3,300 crore it owed to the firm by May 31. DMRC has already made part payment of Rs 1,678.42 crore to DAEML.

Both sides had differed on how much additional interest has accrued on the award amount. While DMRC said that its liability stood at around Rs 5,000 crore, the RInfra arm had claimed it to be around `8,009.38 crore with interest as on February 14, 2022. DAEML had claimed that the calculation had been strictly made in accordance with the arbitral award and the settled legal principles, which are certified by the chartered accountant. The order came on a petition by DAEML seeking enforcement of the arbitration award that it had won in May 2017 against DMRC. Even the Supreme Court had on September 9 last year upheld the Rs 4,600-crore arbitration award in favour of Anil Ambani’s group firm.

Justice Suresh Kumar Kait noted that DMRC’s affidavit as on February 14 had stated the total funds available with it was Rs 5,693.39 core, out of which Rs 514 crore was committed to the salary, medical and post-retiral benefits of employees and Rs 114 crore was the portion of refundable security deposits. Accordingly, the HC directed DMRC to be keep aside the amount of Rs 628 crore for statutory expenses and pay the balance amount lying in its different bank accounts under other heads to DAEML towards part payment of decreetal amount within two weeks.

For the remaining outstanding amount, DMRC is directed to make the payments in two equal instalments within two months. The first instalment has to be paid on or before April 30 and the second instalment by May 31.