Supreme Court Warns DAMEPL, Axis Bank: Uphold Verdict or Face Coercive Action

The Supreme Court has emphasized the need for compliance with its April 2024 verdict in the DMRC-DAMEPL dispute. The court warned DAMEPL and Axis Bank about potential coercive actions if they fail to comply. The case involves financial liabilities and contract disputes over the Delhi Airport Express Metro line.

The Supreme Court has reiterated the importance of adhering to its ruling in the DMRC-DAMEPL financial dispute, cautioning both DAMEPL and Axis Bank against non-compliance. The verdict, which overturned a previous decision favoring DAMEPL, demands a refund of approximately Rs 2,500 crore to DMRC.

This dispute traces back to a cancelled contract between DAMEPL and DMRC over structural issues on the Delhi Airport Express Metro line. A 2017 arbitral ruling had initially assigned a liability of Rs 8,000 crore to DMRC, which was contested and overturned by the top court last year on a curative petition by DMRC.

The apex court has underscored its disappointment with the frequency of judicial decisions overturning arbitration awards and warned of stringent measures should the concerned parties fail to execute the court's directive conscientiously.

(With inputs from agencies.)