In Brief
Rapid MetroRail Gurgaon Limited and its sister company sought to recover 80% of debt due upon termination of metro concession agreements with Haryana authorities. The High Court passed a consensual order directing the Comptroller and Auditor General (CAG) to determine the debt due. The Court held that the respondents must comply with the consensual order and deposit 80% of the CAG-determined debt in an Escrow Account within three months, subject to NCLAT orders. Disputes on audit validity and termination notice validity shall proceed to arbitration. The Court emphasised that public interest in infrastructure financing and compliance with contractual obligations cannot be defeated by pending criminal investigations.
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