Reliance Infra says SC imposed no liability on company

Reliance Infra says SC imposed no liability on company

Anil Ambani's Reliance Infrastructure Ltd on Wednesday said no liability has been imposed on it by the Supreme Court order that set aside a Rs 8,000-crore arbitral award that was granted in favour of Delhi Airport Metro Express Pvt Ltd (DAMEPL).

Setting aside the award, the top court ordered DAMEPL to refund all sums previously paid by the Delhi Metro Rail in accordance with the arbitral award. DMRC had paid Rs 3,300 crore to DAMEPL.

''Reliance Infrastructure wishes to clarify that the Order dated April 10, 2024, passed by the Supreme Court does not impose any liability on the company and the company has not received any money from DMRC / DAMEPL under the arbitral award,'' the firm said in a stock exchange filing.

While DAMEPL is a subsidiary of Reliance Infrastructure, it is a separate entity and the liability falls on it.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)