Supreme Court Issues Contempt Notice to Axis Bank and Reliance Infra Arm Over ₹4,500 Crore Refund to DMRC

In a significant development, the Supreme Court has issued a contempt notice to the managing directors of Reliance Infrastructure’s subsidiary, Delhi Airport Metro Express Pvt. Ltd (DAMEPL), and Axis Bank. The notice comes after they failed to refund over ₹4,500 crore, including interest, to the Delhi Metro Rail Corporation (DMRC). This refund was part of an arbitral award that the court had set aside in April.

A three-judge bench, led by Justice Surya Kant, directed the two entities to respond as to why contempt proceedings should not be initiated against them. However, the court clarified that the accused parties need not appear in person for the hearing. The case highlights ongoing challenges in the enforcement of financial settlements and the obligations of large corporations.

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