Authority: Supreme Court of India

Order Date: 12-08-2026

Case Overview

  • Parties: Consortium of M/s Crown Steels and M/s Sunrise Industries (appellants) versus Delhi Metro Rail Corporation Limited (DMRC) and others (respondents).
  • Background: The appeal arises from a Resolution Plan approved by the National Company Law Tribunal (NCLT) on 30‑07‑2024, naming the appellant consortium as the successful resolution applicant for the corporate debtor (referred to as the Corporate Debtor/Prime Infra Park). The appellant seeks revival of the Concession Agreement originally granted to Pratibha Industries Limited (PIL) and later assigned to the Corporate Debtor, arguing that the NCLT order binds DMRC to honour the plan.
  • Key Contentions:
  • Appellant argues that under paragraphs 10.9‑10.11 of the Resolution Plan, DMRC and other authorities must allow change in management, shareholding, and revive the Concession Agreement without additional liability.
  • DMRC contends the Concession Agreement was terminated on 01‑03‑2017, prior to the commencement of the Corporate Insolvency Resolution Process (CIRP), and therefore cannot be revived, though it is willing to consider conciliation/arbitration.
  • The appellant points out that the arbitration clause in the Concession Agreement has been invoked, and the dispute should be resolved through arbitration/conciliation, not barred by paragraph 14(i) of the impugned order.

Final Outcome

1. The Court condoned the delay in filing (order dated 17‑07‑2026 reproduced in the record).

2. DMRC was directed to file an affidavit confirming its willingness to undertake conciliation proceedings, while reserving all legal rights, including objections on maintainability, limitation, and estoppel.

3. Both parties were directed to proceed with conciliation under the Concession Agreement, subject to the Arbitration and Conciliation Act, 1996.

4. Hon’ble Mr. Justice Abhay Manohar Sapre, former Judge of the Supreme Court of India, was appointed as Conciliator; his fees and procedural modalities are to be fixed in consultation with the parties.

5. The matter was listed for further hearing on 14‑10‑2026, together with the conciliation report. No further deposit under the Resolution Plan is required in the interim.

Topics: Conciliation, Insolvency Resolution, Concession Agreement