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{"id":246820,"date":"2021-04-09T15:52:48","date_gmt":"2021-04-09T10:22:48","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=246820"},"modified":"2021-04-16T12:33:35","modified_gmt":"2021-04-16T07:03:35","slug":"the-rapid-metrorail-controversy-high-courts-consensual-order-and-supreme-courts-order-directing-hsvp-to-deposit-80-of-debt-due-in-escrow-account","status":"publish","type":"post","link":"https:\/\/blog.scconline.gen.in\/post\/2021\/04\/09\/the-rapid-metrorail-controversy-high-courts-consensual-order-and-supreme-courts-order-directing-hsvp-to-deposit-80-of-debt-due-in-escrow-account\/","title":{"rendered":"The Rapid MetroRail controversy; High Court’s “consensual order” and Supreme Court’s order directing HSVP to deposit 80% of debt due in Escrow Account"},"content":{"rendered":"\n
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Supreme Court<\/strong>: The 3-judge bench of Dr. DY Chandrachud*<\/strong>, MR Shah and Sanjiv Khanna, JJ has directed Haryana Shehri Vikas\u00a0Pradhikaran<\/span>\u00a0to deposit\u00a0<\/span>almost 2000 crores<\/span>\u00a0<\/span>in<\/span>\u00a0the Escrow Account within 3 months.\u00a0<\/span>Th<\/span>is amount is the 80% of the debt due to the e IL&FS group<\/span>\u00a0as\u00a0<\/span>determined in audit report dated June 23, 2020.\u00a0<\/span>HSVP Had\u00a0<\/span>entered<\/span>\u00a0into\u00a0a contract with IL&FS Group for the construction of Rapid Metro Rail Gurgaon.\u00a0<\/span>\u00a0<\/span><\/p>\n

What led to the controversy?<\/span><\/h3>\n