Reliance Infrastructure's (RInfra) subsidiary - Delhi Airport Metro Express (DAMEPL) has moved the Delhi High Court (HC) seeking execution of the arbitration award it had won against Delhi Metro Rail Corporation (DMRC). The arbitral award was recently upheld by a single judge bench of the Delhi High Court.
DAMEPL has sought an order for the execution of the award dated May 11, 2017 passed by the Arbitral Tribunal and direct DMRC to pay around Rs 5,200 crore. This includes principal amount of Rs 2,945.54 crore along with interest as on date.
RInfra is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.