If you really want India to be an international arbitration hub, it has to start from you: Supreme Court to Central government

The Supreme Court on Monday slammed the Central government for not paying an amount ordered to be paid by an arbitral tribunal and said that efforts to make India an international arbitration hub must be led by the government itself. [DAMEPL v. DMRC Ltd].The Court was hearing a plea seeking enforcement of an arbitration award of ₹7,200 crore in favour of Delhi Airport Metro Express Pvt Ltd (DAMEPL) to be paid by Delhi Metro Rail Corporation (DMRC).A Bench of Justices BR Gavai and Vikram Nath referred to public speeches on making India an international arbitration hub and told Attorney General for India R Venkataramani that the award, which was upheld by the Supreme Court, has to be followed."On one hand there are public speeches on making Indian an international arbitration hub and then there is no enforcement of award? The award upheld by Supreme Court has to be followed," the Court said..When asked for a tentative timeline for payment of ₹4,500 crore that is yet to be paid, AG Venkataramani sought four weeks' time.To this, Justice Gavai remarked,"If you really want India to be made a international arbitration hub then it has to start from you, AG."Thereafter, when the AG sought to argue his case, the Court said,"Mr Attorney, this is contemptuous. The award is upheld by the top court. Not expected from the Attorney. Please do not do it again."The matter will be taken up on Wednesday, December 14..The present issue arises out of an agreement signed between the DMRC and DAMEPL in 2008 to develop and operate the orange line of the Delhi Metro that connects Indira Gandhi International Airport's Terminal-3 to Dwarka Sector-21.In March this year, the High Court had directed DMRC to pay the entire balance amount to DAMEPL along with interest in two equal instalments, by May 31. This order was upheld by the Supreme Court on May 5.DAMEPL had said that despite the directions of the High Court, DMRC has only made a payment of ₹166.44 crore. It claimed that it is yet to get the payment of the remaining ₹4,427.41 crore.The firm, therefore, asked the Court to attach DMRC’s bank accounts and other such assets.DMRC had told the Delhi High Court that if it raises loans to pay the arbitration award to the Anil Ambani-owned DAMEPL, it would fall into a debt trap which will affect millions of commuters.On Monday, AG Venkataramani, appearing for DMRC, said that though it is important to comply with the decree for payment of award to Reliance Infrastructure owned DAMEPL, the concerns of DMRC were equally important..[Follow our coverage of today's hearing]