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Time of India
a day ago
- Business
- Time of India
MMRDA deposits Rs 560 crore with Bombay high court registry in arbitration dispute with Mumbai Metro One Pvt Ltd
Mumbai: The Mumbai Metropolitan Region Development Authority (MMRDA) deposited Rs 560.2 crore with the registry of Bombay high court in an arbitration matter involving Mumbai Metro One Pvt Ltd, in accordance with a directive recently issued by Supreme Court. MMOPL, a joint venture between Reliance Infrastructure and MMRDA, is a special purpose vehicle set up to run the Versova-Andheri-Ghatkopar Metro 1 corridor. In Aug 2023, a three-member arbitral tribunal awarded Rs 992 crore to MMOPL as compensation for cost escalations and contractual disagreements. With interest accrued till May 2025, the total award rose to Rs 1,169 crore. You Can Also Check: Mumbai AQI | Weather in Mumbai | Bank Holidays in Mumbai | Public Holidays in Mumbai On July 10, 2025, HC directed MMRDA to deposit the entire amount, rejecting its plea for an unconditional stay. The court observed that MMOPL's arbitration win could not be rendered meaningless during the pendency of MMRDA's challenge to the award. It noted that MMRDA failed to make a prima facie case to justify a stay without deposit. HC also pointed out that MMRDA, as a 26% equity holder in MMOPL, was involved in key financial decisions and project execution. The audit committee of MMOPL, chaired by an MMRDA nominee, endorsed the financial statements on which the tribunal partly relied. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses In Bolon Container House | Search ads Search Now It concluded that the award — passed by a 2:1 majority — could not be dismissed as perverse or arbitrary. MMRDA filed a challenge under Section 34 of the Arbitration and Conciliation Act, calling the award illegal and based on flawed assumptions regarding project delays, rent recovery, and cost escalations. MMOPL, in turn, accused the authority of attempting to backtrack from previously approved decisions. After the HC ruling, MMRDA approached Supreme Court, which granted partial relief by allowing it to deposit only 50% of the award amount pending final adjudication. In a stock exchange filing, Reliance Infrastructure confirmed that MMRDA complied with the SC order and deposited Rs 560.2 crore with the HC registry. The final outcome of this arbitration matter is likely to set a precedent for public-private partnership infrastructure disputes in India. S
Indian Express
a day ago
- Business
- Indian Express
MMRDA deposits Rs 560.21 crore complying with SC order in Mumbai Metro 1 arbitration case
The Mumbai Metropolitan Region Development Authority (MMRDA) has deposited Rs 560.21 crore with the Bombay High Court as 50 per cent of the arbitration award amount in the case of Mumbai Metro One Private Limited (MMOPL). The deposit was made as per a Supreme Court order in a case concerning cost escalation and delays in the construction of the Mumbai Metro Line 1 project. Reliance Infrastructure, which owns 74 per cent of MMOPL, confirmed the development in a regulatory filing on Tuesday. The remaining 26 per cent is owned by MMRDA. 'This follows our previous disclosure dated June 10, 2025, with regard to the arbitration award in favour of MMOPL. The Hon'ble Supreme Court ordered MMRDA to pay 50 per cent of the award amount, and as required, MMRDA has paid ₹560.21 crore to the Registry of the BHC,' Reliance Infrastructure said in a statement. The Bombay High Court had on June 10 ordered MMRDA to pay the entire Rs 1,169 crore arbitration award with interest up to May 31, 2025, into court registry by July 15. MMRDA had moved a Special Leave Petition in the Supreme Court, which had altered the High Court's order and permitted part payment until further orders. The award of arbitration arises out of a dispute since long between MMOPL and MMRDA over the cost and schedule of the Versova-Andheri-Ghatkopar Metro Line 1 project. The project agreement, signed in 2007, provided for all aspects of implementation, including operation, engineering and design. The project was delayed by more than two years and MMOPL asserted the overall project cost increased from Rs 2,356 crore to Rs 4,321 crore. MMRDA contradicted this cost escalation. The issue went to arbitration and the tribunal ruled in MMOPL's favour. The recent payment of Rs 560.21 crore confirms partial compliance with the tribunal's award, while the ultimate outcome awaits further court verdicts. Bombay High Court and Supreme Court hearings are still in progress.
India.com
2 days ago
- Business
- India.com
Days after ED raids, BIG win for Anil Ambani, MMRDA deposits Rs 5600000000 in…
Anil Ambani (File) In the matter of arbitration award won by the Mumbai Metro One (MMOPL) against the MMRDA, the MMRDA, on the directions of Supreme Court, has deposited Rs 560.21 crore (50% of the total arbitration amount of Rs 1160 crore) in the registry of Bombay High Court. In a Special Leave Petition filed by MMRDA before the Hon'ble Supreme Court challenging the order dated June 10, 2025, the Hon'ble Supreme Court directed MMRDA to deposit 50% of the award amount. In compliance with the said order of the Hon'ble Supreme Court, MMRDA has deposited an amount of Rs. 560.21 crore with the Registry of the BHC, Reliance Infra said in a statement. What Were Bombay HC's Directions To MMRDA? The Bombay High Court had earlier directed MMRDA to pay Rs 1169 crore to MMOPL by July 15, 2025 after an arbitration award in a dispute related to the Versova-Andheri-Ghatkopar metro corridor in India's first metro project. On which, MMRDA approached the Supreme Court with a special leave petition challenging the High Court's order. The SC, however, directed MMRDA to deposit 50% of the award amount of around Rs 560 crore. MMOPL has indicated that the funds will be used to reduce outstanding debt. What Was Dispute Between MMOPL And Reliance Infra? The dispute started in August 2023, when MMOPL was awarded Rs 992 crore by a three-member arbitral tribunal over project cost escalations and other contractual disputes. Initially it was estimated at Rs 2,356 crore, the cost of the 12-km elevated metro line with 12 stations which was increased to Rs 4,321 crore. MMRDA had contested the award under Section 34 of the Arbitration and Conciliation Act, 1996, but the Bombay HC upheld the tribunal's decision in favor of MMOPL. MMOPL is a joint venture between R-Infra and MMRDA wherein Anil Ambani's company holds a 74% stake. The project was given in 2007 through global competitive bidding, and the metro line became operational as Mumbai's first rapid transit corridor. The project was financed by a consortium of banks headed by Canara Bank. In November 2024, the lenders initiated a bidding process to offload Rs 1,226 crore in loans. The National Asset Reconstruction Company Ltd (NARCL) placed an anchor bid of Rs 1,063 crore to acquire the stressed debt.
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Business Standard
2 days ago
- Business
- Business Standard
MMRDA deposits Rs 560 cr in Metro arbitration case with Reliance Infra
The Mumbai Metropolitan Region Development Authority (MMRDA) has deposited Rs 560.21 crore with the registry of the Bombay High Court in an arbitration matter involving Mumbai Metro One Private Limited (MMOPL), a subsidiary of Anil Ambani-promoted Reliance Infrastructure (R-Infra). In June, the Bombay High Court had directed MMRDA to pay the arbitration award of Rs 1,169 crore to MMOPL and deposit the amount with the registry before 15 July 2025. However, MMRDA filed a special leave petition before the Supreme Court challenging the order. The apex court then directed MMRDA to deposit 50 per cent of the award amount. MMOPL had stated that the money would be used to reduce its debt. The matter dates back to August 2023, when MMOPL won an arbitration award of Rs 992 crore passed by a three-member arbitral tribunal in the arbitration between MMOPL and MMRDA for various disputes, including the cost of the project. The initial estimated cost of the project was Rs 2,356 crore, according to data from MMRDA's website. The cost later escalated to Rs 4,321 crore. MMRDA had challenged the award, initiating proceedings under Section 34 of the Arbitration and Conciliation Act, 1996, which the high court has now upheld in favour of MMOPL. MMOPL is a joint venture of R-Infra and MMRDA, with R-Infra holding a 74 per cent stake and the remainder with MMRDA. MMOPL operates Mumbai's first metro line between the Versova–Andheri–Ghatkopar corridor. The mass rapid transit system project was awarded by MMRDA through global competitive bidding on a public-private partnership (PPP) framework to a Reliance Infrastructure-led consortium in 2007. MMOPL, a special-purpose vehicle, was incorporated for the project's implementation. MMRDA is an apex body for planning and coordinating development in the Mumbai Metropolitan Region. This was the first metro project in India awarded on a PPP basis and involved the design, financing, construction, operation and maintenance of about 12 km of elevated metro with 12 stations en route. The project was financed by a consortium of banks led by Canara Bank. In November 2024, the consortium was looking to sell Rs 1,226 crore of loans through a bidding process. In the same month, state-owned National Asset Reconstruction Company Ltd (NARCL) gave an anchor bid of Rs 1,063 crore to acquire the stressed loans from the MMOPL consortium. Separately, State Bank of India (SBI) and IDBI Bank initiated insolvency proceedings against MMOPL amid non-payment of loans of Rs 416.08 crore and Rs 133 crore, respectively, in 2023. In April 2024, the Mumbai bench of the National Company Law Tribunal (NCLT) dismissed the banks' petitions after the concerned parties agreed to a one-time debt settlement.
News18
3 days ago
- General
- News18
Mumbai Metro-1: How City's 1st Line Became Centrepoint Of Smooth East-West Travel Over 11 Years
Last Updated: Mumbai Metro Blue Line: What is the route of Versova-Andheri-Ghatkopar Mumbai Metro-1? Is it connected to other Metros? How and where? What is ticket fare? Explained Mumbai Metro Line 1: Mumbai Metro Line 1 or Metro One, the city's first east-west corridor, completed 11 years of operation this July. The 11.4-km Versova-Andheri-Ghatkopar (VAG) corridor has transported over 111 crore passengers, as of July. 'On its 11-year run, Mumbai Metro One has made more than 12.66 lakh train journeys…," operator Mumbai Metro One Private Limited (MMOPL) said. Ghatkopar has seen almost 30 crore travellers, Andheri 23 crore and Saki Naka 11 crore since its launch. The Mumbai Metro-1 Blue Line started operations on June 8, 2014, with inauguration by then CM Prithviraj Chavan. It is said to have the eighth highest passenger density of any metro line in the world. There are a total of 64 curves on the line, with the steepest curve being 107 metres (351 ft). It was built at a cost of Rs 2,356 crore. Metro One was designed as an alternative to the roads and railways on public-private-partnership (PPP) between Reliance Infrastructure and the Mumbai Metropolitan Region Development Authority (MMRDA). Metro One offsets over 67,000 tonnes of CO₂ annually, an impact comparable to planting over 3 million trees. The line has also been recognised with over 40 prestigious awards for its service, innovation, and environmental contributions, according to MMOPL. On this Children's Day, young adventurers boarded the Metro and had a ride full of laughter and wonder! 🚇✨ #ChildrensDay #MetroFun #HappyRides #LittleExplorers #KidsOnTheMetro #JoyfulJourneys#ChildhoodAdventures #MetroMagic #HappyLittleTravellers #MetroJoy … — Mumbai Metro (@MumbaiMetro01) November 15, 2024 Mumbai Metro-1: How many trains does it operate? Week-day ridership: 500,000 (highest 5.47 lakh) Train trips operated: 12,66,973 (more than 1.2 million) Cumulative kilometres covered: 1,45,21,256 What are Mumbai Metro-1 timings? First Train: 5:30 AM from both Versova and Ghatkopar. Last Train: 11:25 PM from Versova and 11:50 PM from Ghatkopar. What is the frequency of Mumbai Metro-1? Around 4 minutes during peak hours with 444 trips. Around 8 minutes during non-peak hours. 11th Foundation Day of Mumbai Metro One 🎉Towards greater achievements, stronger connections, and continuous success!Here's to the journey so far — and the exciting path ahead. 🚇💙 #MMO11Years #FoundationDay #UrbanMobility #StrongerTogether #MetroAnniversary #ConnectingMumbai … — Mumbai Metro (@MumbaiMetro01) June 8, 2025 Mumbai Metro-1: What is the route? What are the stations? Mumbai Metro-1 provides connectivity between the eastern and western suburbs to Western & Central Railway. It has 12 stations – Versova, DN Nagar, Azad Nagar, Andheri, Western Express Highway, Chakala (J B Nagar), Airport Road, Marol Naka, Saki Naka, Asalpha, Jagruti Nagar, Ghatkopar. It facilitates smooth and efficient interchange between suburban rail system and Metro trains at Andheri and Ghatkopar Stations. How has Metro-1 helped Mumbai? It has reduced the journey time from 71 minutes to 21 minutes, between Versova and Ghatkopar. Provides rail-based access to the MIDC, SEEPZ and commercial developments. Is Metro-1 connected to other Metro lines? Metro-1 connects to other Metro lines. Here's how: Line 2A (Dahisar East to DN Nagar): At D N Nagar Line 7 (Dahisar East to Andheri East, which runs along the Western Express Highway from Dahisar to Gundavali): At Western Express Highway Is it easy to switch lines from Metro-1? Remember you need to exit one line and buy a separate ticket or tap your NCMC smart card for the next line. Here's how easy the switch is: 1. DN Nagar (Line 1)-Andheri West (Line 2A): There's a covered connector / skywalk linking DN Nagar station (Line 1) directly to Andheri West station (Line 2A). Commuters exit Line 1, cross the skywalk, and enter Line 2A platform at the other end—no street crossing needed. The walk is short and sheltered, typically under 5 minutes. 2. Western Express Highway (Line 1)-Gundavali (Line 7): These stations are connected by a 58 metre foot overbridge (FOB) built by MMRDA, linking the two platforms directly. Walking distance is about 58 metres, so roughly 1 minute for most people. 3. Marol Naka (Line 1)-Line 3 (Aqua Line): At Marol Naka, Line 1 (elevated) and Line 3 (underground) serve the same location but do not share a direct internal connector. You must exit one station, walk externally on footpaths, and enter the other station separately. This walk is around 500 metres, about 5–7 minutes depending on crowd and path condition. Path quality can vary—some say footpaths may be narrow or uneven, especially around major roads. Why Metro-1 matters in office journey in all directions: From Ghatkopar, Dahisar or Borivli to BKC or Worli Metro-1 is a key connector in your journey from Ghatkopar or Mumbai suburbs, Dahisar or Borivli East to Worli. Ghatkopar to Worli: Taking a local Central Railway train, you can get off at Ghatkopar station. It is interconnected to the Ghatkopar Metro station. For those coming from Western Railway or the harbour line, the interchange is at LIC Andheri. If your office is in Andheri or Versova, the Metro line takes you directly to the spot. If you want to go to Worli, from Marol Naka (Metro-1), you can go to BKC or Worli using Metro-3. If your destination is Dahisar, you need to get off at Western Express Highway (Metro-1), walk for five minutes to reach Metro 7. Dahisar East to Worli: Take Metro-7 and get off at Gundavli. Change over to Metro-1's (Versova-Andheri-Ghatkopar) Western Express Highway station. It is a five-minute walk between Metro 7 and Metro-1 through a 58-metre foot overbridge. Using Metro-1, travel towards Ghatkopar and get off at Marol Naka. Change over to the underground Metro-3 which will take you to BKC or further to Worli. Coming from an area in the vicinity of Dahisar, you can board Metro-7 at any of these stations: Dahisar East, Ovaripada, National Park, Devipada, Magathane, Poisar, Akurli, Kurar, Dindoshi, Aarey, Goregaon E (Interconnect Mumbai Metro-6: Pink Line), Jogeshwari E, Shankarwadi, and Gundavali (Earlier Andheri East, Interconnect Mumbai Metro-1 — Blue Line and Mumbai Metro: 7A – Red Line). Metro 7A is the southern extension of the operational Metro Line 7 from Andheri (East) to Dahisar (East). Borivli West to Worli: Take Metro-2A from Borivali West and get off at Andheri West. Change over to Metro-1's DN Nagar station. Using Metro-1, travel towards Ghatkopar and get off at Marol Naka. Change over to the underground Metro-3 and head to BKC or further to Worli. Stations on Metro 2A are — Dahisar (East), Anand Nagar, Kandarpada, Mandapeshwar-I C Colony, Eksar, Borivali (West), Pahadi Eksar, Kandivali (West), Dahanukarwadi, Valnai, Malad (West), Lower Malad, Pahadi Goregaon, Goregaon (West), Oshiwara, Lower Oshiwara, Andheri (West). Once Metro-3 is connected to Colaba, the journey will become even smoother. 🚇 तुम्ही सुरळीत प्रवास करण्यास तयार आहात का? 🎫📲 मुंबई मेट्रो वनच्या व्हॉट्सॲप तिकीटामुळे तुम्हाला लांब रांगेत उभे राहण्याची गरज नाही. कुठूनही तुमचे डिजिटल तिकीट बुक करा. हे खूप सोपे आहे. तुमच्या सोयीसाठी तिकीट फक्त एका क्लिकच्या अंतरावर आहे!🌟 #WhatsAppTicketing #EasyTravel … — Mumbai Metro (@MumbaiMetro01) December 20, 2023 How can you get tickets for Mumbai Metro-1? There are various options: 1. Paytm App: Tickets are mobile QR codes; no need for physical smart cards. Payment via UPI, cards, etc., within Paytm. 2. At the station: Single Journey Ticket (SJT) or Return Journey Ticket (RJT) available. Token/Vending Machines (TVMs/AVMs): Accept cash, UPI, debit/credit cards at stations. Ticket Selling Officers (TSO): Counters also issue paper QR tickets for single or return trips. 3. WhatsApp Ticketing (Line 1 support): Line 1 also supports WhatsApp-based ticket purchases. Send 'Hi" to +91 96700 08889 for a ticket link and QR code. 4. All automatic fare collection (AFC) gates on Line 1 stations have been upgraded to accept NCMC-compliant cards, alongside the older closed-loop metro cards. You can now tap a single Mumbai 1 card at entry and exit gates for travel on Metro Line 1. Points to remember while buying tickets QR tickets (single or return journey) expire within the same operational business day and cannot be refunded or canceled once issued The 'Mumbai 1' app presently supports Line 2A and 7 only and does not support booking for Line 1; Paytm remains the go-to app for Line 1 bookings. What are the fares for Mumbai Metro-1? In case of line 1, fare range is Rs 10-40. Is Mumbai Metro-1 connected to other public transport? Bus: Brihanmumbai Electric Supply and Transport (BEST) buses serve all Metro-1 stations, offering last-mile connectivity across Andheri, Juhu, Ghatkopar, Sakinaka, and Kurla areas. Major stations like Andheri, Western Express Highway (WEH), Ghatkopar, and Saki Naka have dedicated bus stops or depots nearby. Common BEST routes near Metro-1 stations include: 202, 254, 340, 371, 375 (Ghatkopar area) 186, 340, 392, 496 (Andheri area) 419, 433, 472, 505 (Sakinaka and Marol areas) Railway: Andheri Station (Western Line): Walkable via skywalk to Andheri Metro station. Ghatkopar Station (Central Line): Connected via elevated walkway to Ghatkopar Metro. These are the two primary rail-to-metro interchanges on Line 1 and are among the busiest. Autorickshaws and taxis: Auto rickshaw stands are available at almost all Metro-1 stations. Prepaid taxi counters are available at Andheri and Ghatkopar. App-based cab pick-up zones (Uber, Ola) are common but can be congested during peak hours. top videos View all Will Metro-1 be connected to upcoming/planned lines? Line 2B (Extension of Line 2A): It runs from DN Nagar (Line 1's terminal) further east toward Mandale. While Line 2B starts from DN Nagar, passengers on Line 1 will continue changing at DN Nagar itself—a built interchange. No new physical connector is planned; existing interchange facility will suffice. Line 6 (Pink Line): Connects Jogeshwari-Vikhroli; intersects with Line 1 only indirectly—no direct interchange is planned at this time. Line 3 (Aqua Line): Already connects at Marol Naka. Line 4 / 4A / 10 / 11 / 12 / 13 / 14: These future lines fall under Metro 4 and its extensions (Lines 10 & 11), Metro 5/12, Metro 7/9, and other corridors. At Ghatkopar, Line 1 meets Line 4. Line 11 (Wadala-CSMT) would intersect Metro 4, but no integration with Line 1 is part of that plan as of now. Line 8 (Gold Line Airport Express): This airport-to-airport line (CSMIA Terminal 2 to Navi Mumbai International Airport) is approved. No direct interchange with Line 1 is planned for now. About the Author Manjiri Joshi At the news desk for 17 years, the story of her life has revolved around finding pun, facts while reporting, on radio, heading a daily newspaper desk, teaching mass media students to now editing special copies ...Read More tags : Maha Mumbai Metro Operation Corporation Ltd Mumbai metro Mumbai Metro Rail Corporation news18 specials view comments Location : Mumbai, India, India First Published: July 28, 2025, 17:25 IST News cities » mumbai-news Mumbai Metro-1: How City's 1st Line Became Centrepoint Of Smooth East-West Travel Over 11 Years Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
