The Supreme Court on Wednesday set aside a Rs 8,000 crore arbitral award that was granted in favour of Delhi Airport Metro Express Pvt. (DAMEPL), in a dispute arising out of a ‘concession agreement’ that was entered into between Reliance Infrastructure-led DAMEPL and Delhi Metro Rail Corp. in 2008.
The SC upheld the High Court’s division bench decision which said that the arbitral award against Delhi Metro Rail Corporation’s (DMRC) suffered patent illegality.
“The amounts deposited by DMRC shall be refunded. Any amount paid by petitioner as part of coercive action has to be refunded,” a bench led by Chief Justice of India DY Chandrachud said.
Reserving the verdict, the SC allowed DMRC curative petition. “However, the curative jurisdiction cannot be opted to open floodgates. In the specific facts and circumstances of the case. Interference of Supreme Court had led to grave miscarriage of justice,” the bench said.
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