RInfra wins Rs 50 bn in DMRC arbitration award, will use funds to pare debt

Delhi HC asks Delhi Metro to deposit Rs 35 bn in an escrow account in four weeks

Reliance Infrastructure won its case against the Delhi Metro Rail Corporation (DMRC) in the Delhi High Court on Tuesday.

Anil Ambani-promoted Reliance Infrastructure said the court has upheld its arbitration award of Rs 29.50 billion as compensation along with interest to Delhi Airport Metro Express Private Limited (DAMEPL), a subsidiary of Reliance Infrastructure Limited (RInfra).

"Reliance Infrastructure stands to get Rs 50.6 billion from the award, which it shall entirely utilize to reduce its consolidated debt. This amount is arbitration award amount plus interest till March 31, 2018," the company said in its statement on Tuesday.

RInfra added the