Sat, 10 Oct, 2026, 02:08 am
Reported by The Indian Express
A deal meant to rescue the company running Mumbai’s first Metro line from its debts has collapsed, pushing it back into insolvency proceedings and leaving lakhs of commuters waiting indefinitely for longer trains. The Reliance Infrastructure-led Mumbai Metro One Pvt Ltd (MMOPL), which runs the Versova-Ghatkopar Metro 1 line, had signed a debt-restructuring agreement that promised to ease its financial strain.
That agreement has now fallen through. Operations on the line, which carries around five lakh passengers every weekday, will not be affected. But fresh insolvency proceedings could hit the company’s ability to expand its four-car trains to six-car trains, which would cost an approximate Rs 330 crore and the wait for longer trains is likely continue indefinitely.
The Anil Ambani-led MMOPL owes Rs 2,771.32 crore to the National Asset Reconstruction Company Limited (NARCL), a government-backed company that took over the loans given by Canara Bank, Indian Bank, Bank of Maharashtra,SBI and IDBI Bank. It owes another Rs 1,745 crore to India Infrastructure Finance Company (UK) Limited (IIFCL UK), as per IIFCL UK's petition, its lender of foreign funds.
