Order for payment of ₹ 8,000 crore to Reliance Infra rejected: SC said – Delhi Metro is not bound to pay, shares of Anil Ambani’s company fell 20%

Order for payment of ₹ 8,000 crore to Reliance Infra rejected: SC said – Delhi Metro is not bound to pay, shares of Anil Ambani’s company fell 20%

Delhi Metro Rail Corporation i.e. DMRC will no longer have to pay about ₹ 8,000 crore to Anil Ambani’s company Delhi Airport Metro Express. On Wednesday, April 10, the Supreme Court rejected this payment order, calling it illegal. This matter is related to an agreement between DMRC and DAMEPL in 2008. Delhi Airport Metro Express is a subsidiary of Anil Ambani’s company Reliance Infrastructure. After this order of the Supreme Court, the shares of Reliance Infra fell by 20%. The amount deposited by DMRC will also have to be returned to DAMEPL. A bench headed by Chief Justice DY Chandrachud heard the matter. The bench said that the amount deposited so far by DMRC will also have to be returned to DAMEPL. This amount is approximately Rs 3,300 crore. Agreement was signed between DMRC and DAMEPL in 2008

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