A special meeting of the board of directors of the Delhi Metro Rail Corporation (DMRC), scheduled to be held on Friday, will see discussions on the 2017 arbitration award of close to Rs 6,000 crore in favour of Reliance Infrastructure arm — Delhi Airport Metro Express Private Limited (DAMEPL), sources said.
The primary agenda of the DMRC’s board meeting on September 24, 2021, sources claimed, would be to discuss the Supreme Court’s order and modalities for the payment of the arbitration award. The total award, along with the interest amount, adds up to Rs 6,000, and is a major body blow for DMRC, which is already reeling under a massive financial crisis since the Covid outbreak.
The DMRC board comprises 17 members, including five each from the Centre and Delhi government. The secretary of the Union ministry of housing and urban affairs, Durga Shanker Mishra, is the chairman of DMRC Limited. The meeting will also be attended by the vice-chairman of Delhi Development Authority Anurag Jain, DMRC’s managing director Dr Mangu Singh, who represents the Delhi government, and other senior officials.
Though Delhi Metro Rail Corporation officials refused to speak on the issue, sources claimed its legal department has analysed the Supreme Court’s order and the corporation’s finance department has also brainstormed on the modalities of the payment. Sources said different options that have been worked upon and would be put before the board and to discuss the future course of action.
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