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27 July, 2017 02:15 IST
R-Infra's arm files petition for early payment of arbitration award
Source: IRIS | 18 May, 2017, 08.22AM
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Delhi Airport Metro Express Private (DAMEPL), a subsidiary of Reliance Infrastructure (RInfra), filed a petition in the Delhi High court under Section 9 of the Arbitration and Conciliation Act, 1996 for an early payment of the Arbitration award.

RInfra promoted DAMEPL was awarded total compensation of Rs 46.70 billion by a three member Arbitral Tribunal in a unanimous decision last week against the Delhi Metro Rail Corporation (DMRC).

Under GOI approved guidelines issued by Niti Ayog vide their Office Memorandum dated September 5, 2016, PSUs are to pay 75% of the award amount, even if they propose to challenge the arbitral award. RInfra is thus expected to receive Rs 35 billion as per the above guidelines.

Shares of the company declined Rs 4.05, or 0.66%, to settle at  Rs 605.30.  The total volume of shares traded  was  293,936 at the BSE (Wednesday).



Reliance Infrastructure Limited   (Q,N,C,F)*

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