Supreme Court (file photo) | Photo credit: Twitter
- DMRC to HC: Have a total balance of Rs. 6,208 cr in various accounts
- In the latest affidavit of January 5, DMRC disclosed bank account details of Rs 1,642 crore
New Delhi: A day before the Delhi High Court heard a plea from the Reliance Infrastructure subsidiary to enforce an arbitration award against the Delhi Metro Rail Corporation (DMRC), the state-owned transport company filed an affidavit stating Rs 6 208 crore as total balance in various bank accounts. The reported amount is well over the account balance of Rs.1642.69 crore, which DMRC stated in an affidavit filed a few days ago.
However, the total balance includes the following amounts that are not part of DMRC’s income:
- Liability incurred of Rs 514 crore owed to employees for leave pay, medical expenses after retirement.
- Rs 114 crore as part of smart card security deposits refundable to commuters.
On January 7, Reliance Infrastructure subsidiary DAMEPL (Delhi Airport Metro Express Private Limited) filed a contempt action against DMRC for failing to report details of all its bank accounts despite an order issued by the Delhi High Court in the month last. DAMEPL accused DMRC of delaying the execution of the arbitration award by rendering the hearing scheduled for January 11 ineffective.
DAMEPL argued that in a previous affidavit filed on December 21, 2021, DMRC had attached a document reflecting the total funds available in the amount of Rs 5,800.93 crore as of December 17, claiming that DMRC intentionally does not give any details now. Even though DMRC and DAMEPL differ on the total amount of the arbitration award, DAMEPL claimed that the delay in making the arbitration award costs Rs. 1.75 crore in interest to the taxpayer each day.
On December 22, the High Court asked DMRC to submit details of money in their bank accounts in India as well as overseas, even though DMRC claimed financial inability to pay pending dues. of over Rs. 6,000 crore to DAMEPL in accordance with the obligations of an arbitration award. The court clarified that DAMEPL cannot be compelled to accept DMRC’s payment plan.