On Thursday, the Supreme Court (SC) of India, sustained Reliance Infrastructure's Rs 2,800 crore arbitral award and directed Delhi Metro Rail Corporation Limited (DMRC) to pay damages of Rs 2,800 crore along with interest to Reliance Infrastructure arm, according to a leading media house.
The total amount stood at ₹ 4,500 which includes all the interest, as of January 2019.
The case is related to an agreement between DMRC and Reliance Infrastructure for Delhi Airport Express on a Build–operate–transfer (BOT) basis. But, in 2012, Reliance Infrastructure cancelled the agreement.
Hence, DMRC invoked an arbitration clause looking to start arbitration. Meanwhile, the Arbitral Tribunal granted damages to the Reliance Infrastructure arm and asked DMRC to pay Rs 2800 crore plus interest, in 2017.
After that, Delhi High Court's Single Judge Bench, in 2018 upheld the award and ordered Delhi Metro authorities to pay all the damages.
However, Delhi HC, in 2019 set aside the arbitral award, which came as a sign of relief to DMRC.
After that, to challenge the Delhi HC decision, Reliance Infra filed a petition in the SC.
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