The Bombay High Court registry received ₹560.21 crore from MMRDA during the ongoing arbitration dispute with Mumbai Metro One Private Limited (MMOPL) which operates as a Reliance Infrastructure (R-Infra) subsidiary. The court required MMOPL to receive ₹1,169 crore as part of its August 2023 arbitration award. The Supreme Court ordered MMRDA to pay half of the arbitration award amount while the authority pursued further legal action.
The Mumbai Metro Line 1 (Versova–Andheri–Ghatkopar) project costs increased dramatically from ₹2,356 crore to ₹4,321 crore. The Mumbai Metro Line 1 (Versova–Andheri–Ghatkopar) project became available to MMOPL through a PPP model in 2007 after the company formed a joint venture with R-Infra holding 74% ownership and MMRDA owning the remaining 26%. The arbitration award functioned to settle price disputes between the parties.
The consortium of lenders led by Canara Bank tried to sell MMOPL’s ₹1,226 crore debt in 2024 until NARCL made an anchor bid of ₹1,063 crore. The insolvency proceedings started by SBI and IDBI Bank ended after SBI and IDBI Bank accepted a one-time settlement from the company.
This high-profile case is significant for public-private infrastructure disputes in India.
