Delhi Metro Rail Corporation Limited has informed that they have already deposited Rs 1,678.42 cr in the escrow account of Delhi Airport Metro Express Private Limited (DAMEPL) and its lender banks, the government said on Thursday.
Union minister Hardeep Singh Puri said this in a written reply in Lok Sabha in response to a question on whether there has been delay by the government or the DMRC in the execution of award by arbitral tribunal to DAMEPL.
''Delhi Metro Rail Corporation Limited (DMRC) has informed that they have already deposited (Rs) 1,678.42 crore in the escrow account of Delhi Airport Metro Express Private Limited (DAMEPL) and its lender banks. As per arbitral award the interest per annum is SBI PLR + 2 per cent w.e.f 07.08.2013. The matter regarding execution of arbitral award is currently before the Hon'ble Delhi High Court,'' Puri said in his reply. The Delhi High Court on January 31 had asked the DMRC counsel to take clear instructions on how it will pay the amount of the arbitral award of over Rs 4,600 crore to Reliance Infrastructure's subsidiary DAMEPL or else face an “unpleasant order”.
Prior to that, the Supreme Court on January 24 had asked the DMRC and the Reliance Infrastructure's subsidiary, DAMEPL to appear before the Delhi High Court on January 31 and request it to hear the dispute relating to execution of the over Rs 4,600 crore arbitral award to DAMEPL at the earliest.
The Airport Express line was commissioned on February 23, 2011 after an investment of over Rs 2,885 crore, funded by the DAMEPL promoters' fund, banks and financial institutions.