Metro Rail News Online

New Delhi: Delhi Metro aim was to provide facility to commuters with affordable prices. From last few months Delhi Metro Rail Corporation (DMRC) is continuously increasing fare by which its main motive of public services remain just for the name. Fare hikes need to be done for the maintenance of metro, statement given by Union Urban Affairs minister Hardeep Sing Puri, but the reason behind it is completely different. Delhi Metro has always remain silent when it comes to fare hike, employees salary issue, Rs 4000 crore scam on Airport Line project, Khyber Pass depot land scam, property business scam, poor infrastructure in Mundka staff quarters etc. Recentally   Delhi Chief Minister Arvind Kejriwal has demanded a CBI inquiry, in the airport metro rail line reason behind its termination of the concession agreement of Delhi Airport Metro Express Private Ltd (DAMEPL). There is no report for Rs 4000 crore which was allotted for this line. Actually there was a loopholes in the bas...

New Delhi: Reliance Infrastructure said on Tuesday that the Delhi High Court has directed the  Delhi Metro Rail Corporation (DMRC) to take over the servicing of all debt liabilities of  Delhi Airport Metro Express Pvt Ltd (DAMEPL) amounting to Rs 1,618 crore. The company said 11 banks, who had lent to DAMEPL to run the Delhi Airport Metro Express line, will benefit from the latest High Court order. According to RInfra statement, “The division bench of Justices Sanjiv Khanna and Chander Shekhar passed the interim order on the Section 37 application filed by DMRC. As per the order, DMRC will have to start servicing the DAMEPL debt to 11 banks who had lent to the infrastructure major’s subsidiary to run the Delhi Airport Metro Express line”. The DMRC had challenged a March 6, 2018 Delhi High Court single judge order upholding the Rs 5,300 crore arbitral award, including interest, in favour of DAMEPL. Late last month, the Delhi High Court had dir...

New Delhi: Reliance Infrastructure said on Tuesday that the Delhi High Court has directed the  Delhi Metro Rail Corporation (DMRC) to take over the servicing of all debt liabilities of  Delhi Airport Metro Express Pvt Ltd (DAMEPL) amounting to Rs 1,618 crore. The company said 11 banks, who had lent to DAMEPL to run the Delhi Airport Metro Express line, will benefit from the latest High Court order. According to RInfra statement, “The division bench of Justices Sanjiv Khanna and Chander Shekhar passed the interim order on the Section 37 application filed by DMRC. As per the order, DMRC will have to start servicing the DAMEPL debt to 11 banks who had lent to the infrastructure major’s subsidiary to run the Delhi Airport Metro Express line”. The DMRC had challenged a March 6, 2018 Delhi High Court single judge order upholding the Rs 5,300 crore arbitral award, including interest, in favour of DAMEPL. Late last month, the Delhi High Court had dir...

New Delhi: Reliance Infrastructure owner of Delhi Airport Metro Express Private Limited (DAMEPL) won its case against the Delhi Metro Rail Corporation (DMRC) in the Delhi High Court on Tuesday. According to DAMEPL, “The Delhi High Court has upheld the arbitration award of Rs 2,950 crore as compensation along with interest to Delhi Airport Metro Express Private Limited (DAMEPL), a subsidiary of Reliance Infrastructure Limited (RInfra), by a three-member Arbitration Tribunal. Reliance Infrastructure stands to get Rs 5,060 crore from the award, which it would entirely utilise to reduce its consolidated debt. This amount is arbitration award amount plus interest till March 31, 2018.” Delhi High Court has directed DMRC to deposit Rs 3,502 crore in escrow account within four weeks. “Now that the Delhi High Court has upheld the award by the arbitration tribunal, we expect the compensation to be paid expeditiously, which we shall utilise to retire the outstanding debt of ...

New Delhi: Reliance Infrastructure owner of Delhi Airport Metro Express Private Limited (DAMEPL) won its case against the Delhi Metro Rail Corporation (DMRC) in the Delhi High Court on Tuesday. According to DAMEPL, “The Delhi High Court has upheld the arbitration award of Rs 2,950 crore as compensation along with interest to Delhi Airport Metro Express Private Limited (DAMEPL), a subsidiary of Reliance Infrastructure Limited (RInfra), by a three-member Arbitration Tribunal. Reliance Infrastructure stands to get Rs 5,060 crore from the award, which it would entirely utilise to reduce its consolidated debt. This amount is arbitration award amount plus interest till March 31, 2018.” Delhi High Court has directed DMRC to deposit Rs 3,502 crore in escrow account within four weeks. “Now that the Delhi High Court has upheld the award by the arbitration tribunal, we expect the compensation to be paid expeditiously, which we shall utilise to retire the outstanding debt of ...