The board of Delhi Metro Rail Corporation has approved the raising of the equity share capital of the DMRC by way of the rights issue, to be subscribed equally by both the stakeholders — the Centre and the Delhi government.
The funds raised will be to meet the liability arising out of an arbitral award of 2017 in favour of Delhi Airport Metro Express Private Ltd (DAMEPL).
A rights issue is an invitation to existing shareholders to purchase additional new shares in the company.
The DMRC is a 50:50 joint venture between the government of India and the Delhi government.
The Supreme Court on Wednesday directed the Delhi High Court to proceed with the execution of the Rs 4,600 crore arbitration award granted in favour of DAMEPL, which had pulled out from running the Airport Express metro line over safety issues and take it to a logical end within three months.
An arbitral tribunal had ruled in favour of Reliance Infra’s DAMEPL and accepted its claim that running the operations on the
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