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Maharashtra Govt Might Settle INR 1,700 Cr Debt of Mumbai Metro OneThe Mumbai Metropolitan Region Development Authority (MMRDA) is considering a one-time settlement of INR 1,700 crore debt owed by Mumbai Metro One Pvt. Ltd. (MMOPL) to its lenders. This was recommended by the Maharashtra government following their decision to withdraw their plan to purchase the Mumbai Metro 1 line, a decision...
more... made in March. The Metro 1 line is the only public-private partnership in Mumbai's metro network, with MMOPL, a special-purpose vehicle, operating the line. MMRDA owns 26% of MMOPL, while Anil Ambani's Reliance Infrastructure (R-Infra) holds the remaining 74%. The six lenders involved are the State Bank of India, Indian Bank, IDBI Bank, Bank of Maharashtra, Canara Bank, and IIFCL (UK). Despite financial difficulties, MMOPL has consistently paid around INR 225 crore in interest to lenders from April 2023 to June 2024. MMOPL faced insolvency proceedings in the National Company Law Tribunal (NCLT) due to debts of INR 133.37 crore (IDBI Bank) and INR 416 crore (SBI). The NCLT resolved the proceedings after MMRDA paid INR 170 crore, 10% of the settlement amount. Despite financial difficulties, Anil Ambani's group did not face operational losses with Metro Line 1, which has been operational since 2014. The MMRDA and MMOPL are currently involved in an arbitration case over increased construction costs for Metro Line 1.
Mumbai Metropolitan Region Development Authority (MMRDA) Mumbai Metro One Pvt. Ltd. (MMOPL) ke lenders ko INR 1,700 crore ka debt ek baar mein settle karne ka soch raha hai. Yeh recommendation Maharashtra government ne diya hai, unhone Mumbai Metro 1 line ko kharidne ka plan withdraw kar diya tha, yeh decision...
more... March mein liya gaya tha. Metro 1 line city ki metro network mein ek public-private partnership hai, MMOPL, ek special-purpose vehicle hai, yeh line operate karta hai. MMRDA MMOPL ka 26% owner hai, aur Anil Ambani ki Reliance Infrastructure (R-Infra) 74% ownership rakhta hai. Yeh six lenders involved hain: State Bank of India, Indian Bank, IDBI Bank, Bank of Maharashtra, Canara Bank, and IIFCL (UK). Financial difficulties ke baavajood, MMOPL ne April 2023 se June 2024 tak consistently lenders ko INR 225 crore ka interest diya hai. National Company Law Tribunal (NCLT) mein MMOPL ke insolvency proceedings hue the, INR 133.37 crore (IDBI Bank) aur INR 416 crore (SBI) ka debt ke karan. MMRDA ke INR 170 crore, settlement amount ka 10%, payment karne ke baad NCLT ne proceedings resolve kar diye. Financial difficulties ke baavajood, Anil Ambani ka group Metro Line 1 par operational losses face nahi kiya, yeh line 2014 se operational hai. MMRDA aur MMOPL, Metro Line 1 ke construction costs mein increase ke baare mein arbitration case mein involved hain.
