DMRC in contempt of Delhi HC order, fails to furnish all bank account details: DAMEPL

Delhi Airport Metro Express Pvt Ltd(DAMEPL) has filed an application in the Delhi High Court on January 7 stating that DMRC, in blatant disregard and contempt of Delhi HC, has failed to comply with the last order of the court passed on December 22 that had directed DMRC to make full disclosure of their all bank accounts and the funds lying in those accounts, within one week.

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The application filed by DAMEPL is in response to DMRC's belatedly filed affidavit on January 5 in which it has made a partial/ limited disclosure of its bank accounts only with respect to Rs 1,642.69 crore out of the total funds of Rs 5,800.93 crore that it had disclosed in its last affidavit submitted in the court on December 21, 2021. Notably, from December 17 to January 3, DMRC has spent a further sum of Rs 122.06 crore out of Rs 1,642.69 crore.

DAMEPL says DMRC has intentionally not provided details of its remaining funds and bank accounts, which is blatant disregard and contempt of the Delhi HC order.

DAMEPL says the conduct of DMRC clearly exhibits that it is deliberately trying to defeat and delay the execution process of the Arbitral Award, and also ensure that the next hearing scheduled on January 11 becomes ineffective. It will be the seventh hearing in the execution process and DMRC is nowhere near complying with the Supreme Court decree.

DAMEPL in its application has also stated that delay in the payment of Arbitral Award by DMRC is costing the taxpayer an additional interest burden of almost Rs 1.75 crore per day.

It may be noted that DMRC in its last affidavit dated December 21 had informed the court that it had total funds worth Rs 5,800.93 crore as on December 17, 2021. Out of this, Rs 1,642.69 crore was classified as DMRC funds, Rs 2,412.12 crore as Project funds, and balance Rs 1,746.12 crore as other than DMRC funds.

DAMEPL has requested Delhi HC to direct DMRC to comply with the previous order passed by the Hon'ble Court in letter and spirit and furnish complete details of all its bank accounts and the funds lying in those accounts along with the respective bank statements, on or before the next date of hearing i.e. January 11.

The Supreme Court (SC), on September 7, 2021, had upheld the arbitration award of Rs 7,200 crore in favour of DAMEPL.

DAMEPL then filed an execution petition in the Delhi HC on September 12, 2021, seeking court's directions to DMRC for honouring the SC order and pay Rs 7,200 crore to the company. DMRC, out of Rs 7,200 crore, has so far paid only Rs 1,000 crore.