In Brief
Delhi Airport Metro Express Pvt. Ltd. (DAMEPL) operated an airport metro line under a concession agreement with Delhi Metro Rail Corporation (DMRC). After discovering structural defects, DAMEPL demanded their cure within 90 days. When DMRC failed to cure them, DAMEPL terminated the agreement and sought Rs.3,470 crore as termination payment. An arbitral tribunal upheld the termination and awarded Rs.2,782 crore. The Delhi High Court set aside the award, but the Supreme Court reversed this decision. The Court held that courts must exercise restraint when reviewing arbitral awards and cannot re-examine factual findings or substitute different contractual interpretations. The Tribunal's conclusions on defects, cure period, and equity calculations were all within its permissible domain. The appeal was allowed and the arbitral award upheld.
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