SC orders Reliance Infra subsidiary to refund Rs 8000 cr

(20 second reading) In a significant ruling, the Supreme Court has allowed a curative petition filed by Delhi Metro Rail Corporation, directing Reliance Infrastructure to refund the Rs 8,000 crore paid to its subsidiary Delhi Airport Metro Express Private Limited (DAMEPL). DMRC had filed the curative petition challenging the arbitral award that had directed it to pay to the Reliance Infrastructure subsidiary.

Shortly after the court ruling, shares of Reliance Infrastructure slipped by 20 percent to hit the lower circuit.