Thread by @barandbench

Delhi High Court passes directions in dispute between Anil Ambani owned Delhi Airport Metro Express Private Limited and DMRC.

#DelhiHighCourt #DMRC

Court: The Union Ministry and GNCTD shall attend to the request of the DMRC for extension of sovereign guarantee subordinate debt enabling it to liquidate its liabilities under the award. The decision be taken within two weeks from today.

#DelhiHighCourt #DMRC

Court: If permission be accorded to the DMRC, it shall proceed to deposit the entire amount payable under the award along with interest within one month.

If the Union Ministry or GNTCD declines the request, the Union shall at the end of two weeks, revert and repatriate all...

Court: .. moneys received by it from DMRC post 10 March 2022 pursuant to its directives so as to ensure that the credit balance in the total DMRC, total project and total other funds reflects balance as on 10 March 2022.

#DelhiHighCourt #DMRC

Court: On receipt of the money, DMRC shall transfer to the escrow account amount equal to the total amount payable along with interest.

#DelhiHighCourt #DMRC

Court: In case of failure of parties to proceed in terms of the above directions, the entire amount standing to the credit of the DMRC, total project and total other funds as of today shall stand attached.

#DelhiHighCourt #DMRC

Court: In case DMRC fails to clear all outstanding amounts despite the directions above, the court reserves the right to frame further appropriate directions against the Union Ministry and GNTCD consequent to the corporate veil having been duly lifted.

#DelhiHighCourt #DMRC