The Delhi High Court has ruled that where a party has filed an application seeking to update/revise its counter claims before the Arbitral Tribunal, intending to primarily alter/change the amount.
The Delhi High Court (HC) has appointed Justice L Nageswara Rao (ex-judge of the Supreme Court) as the sole arbitrator in a Rs150 crore loan dispute involving Essel group of companies, Zee Entertainment Enterprises Ltd and Siti Networks Ltd and Aditya Birla Finance Ltd.
Get latest articles and stories on India at LatestLY. The Delhi Metro Rail Corporation on Monday told the Delhi High Court that a meeting with the Centre and the city government is scheduled to discuss modalities on payment of the balance arbitral award to the Reliance Infrastructure-owned Delhi Airport Metro Express Private Limited. India News | Meeting Between Centre, Delhi Govt, DMRC Scheduled for Payment of Arbitral Award to DAMEPL: HC Told.
The Delhi High Court granted time till October 31 to the Delhi Metro Rail Corporation (DMRC) to formulate a plan for the payment of the arbitral award amount to the Delhi Airport Metro Express Private Limited (DAMEPL), a Reliance infrastructure .