Days after ED raids, BIG win for Anil Ambani, MMRDA deposits Rs 5600000000 in…
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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