Requested Centre, State Govt for Rs 3,500 cr each for debt repayment: DMRC tells HC
The Delhi Metro Rail Corporation (DMRC) has informed the Delhi High Court that it has requested the Centre and the city government for over Rs 3,500 crore each as interest free subordinate debt for repayment of the unpaid arbitral award passed in favour of Reliance Infrastructure-owned Delhi Metro Express Private Limited (DAMEPL).
The DMRC said though this step of interest free subordinate debt lay more financial burden on the Delhi Metro, the less bothersome option of issue of equity shares which was explored earlier failed to materialise.
“The DMRC, following the decision of its Board of Directors, have approached its shareholders, that is, Government of India and Delhi government and had written letters dated January 18, 2023
