Give full details of bank accounts: HC to Metro

On January 24, the Supreme Court asked the Delhi high court to decide the matter without further delay

The Delhi high court on Monday ordered the Delhi Metro Rail Corporation (DMRC) to give details of its bank accounts and fixed deposits within three days for the execution of ₹4,600 crore arbitral award to Delhi Airport Metro Express Pvt Ltd (DAMEPL), saying that the Supreme Court has directed the court to expedite the matter.

Justice Suresh Kumar Kait, who was hearing the execution petition by DAMEPL, also directed the Delhi Metro to share its balance sheet for 2021. (Representational Image)

On January 24, the Supreme Court asked the Delhi high court to decide the matter without further delay

Justice Suresh Kumar Kait, who was hearing the execution petition by DAMEPL, also directed the Delhi Metro to share its balance sheet for 2021.

Senior advocate Parag P Tripathi, appearing for DMRC, said there was a genuine dispute with respect to the payable amount as according to them, after the earlier payment of ₹1,000 crore, the balance was only ₹3,305 as opposed to DAMEPL’s claim of ₹6,305 crore.

The counsel said that the money in DMRC’s account was earmarked for several projects and other purposes and was not its own money which can be given away under the law.

Senior advocate Rakesh Kumar Khanna, appearing for DAMEPL, claimed that the corporation was hiding its correct financial position from the court, and that thousands of crores of rupees were lying in its fixed deposits, term deposits, and as equity in the share market, etc.

The court also asked the parties to file their written submissions and listed the matter for further hearing on February 17.