look news india
The troubles of Anil Ambani, the elder brother of India's leading businessman Mukesh Ambani, are not decreasing. Anil Ambani is once again in tension due to the notice of crores of rupees. According to the notice, one of Anil Ambani's companies has received a final notice to pay a huge amount of Rs 2,599 crore. He has only 15 days to return such a huge amount. In such a situation, it is surprising that where will he get so much money from.
Actually, according to media reports, DMRC has sent a notice to Reliance Infra's Delhi Airport Metro Express Private Limited (DAMEPL). In which a refund of Rs. 2,599 crore has been demanded with SBI's prime lending rate +2% interest. This has to be paid within 15 days. If the payment is not made, DMRC will take legal action against Anil Ambani's DAMEPL on charges of contempt of court.
Anil Ambani's troubles are increasing
The troubles of veteran businessman Anil Ambani are not reducing. The Supreme Court has given relief to DMRC in a 12-year-old case related to Delhi Metro. The arbitration tribunal ruled in favor of Anil Ambani-owned Reliance Infrastructure's metro unit Delhi Airport Metro Express Private Limited (DAMEPL). In this case, DMRC was asked to pay Rs 8,000 crore to DAMEPL. But the Supreme Court has given relief to DMRC. The Supreme Court upheld the decision of the Division Bench of the High Court. The High Court said in its decision that the arbitral award against Delhi Metro Rail Corporation (DMRC) suffers from patent illegality.
A bench headed by Chief Justice DY Chandrachud said the amount deposited by DMRC will be refunded. Any amount paid by the applicant as part of enforcement proceedings will be refunded. DMRC and DAMEPL signed an agreement in 2008 to design, install, commission, operate and maintain the Airport Metro Express Line from New Delhi Railway Station to Sector 21 Dwarka for 30 years. DMRC built all the civil structures while the system work was with DAMEPL. After some flaws were found in the viaduct in July, 2012, DAMEPL suspended operations and issued notice to DMRC to fix the problem.
What is the whole matter?
DAMEPL gave notice of termination in October 201. Officials inspected the line in November 2012 and allowed operations to resume in January 2013. DAMEPL resumed operations but abandoned the project within five months in June 2013. DMRC resorted to arbitration clause. The arbitration tribunal ruled in favour of DAMEPL and asked DMRC to pay Rs 2,782.33 crore in 2017. DMRC challenged it in the Delhi High Court but a single bench dismissed its plea. But the bench set aside the order of the arbitration award saying it was against the public policy of India.