SC bars banks from declaring Delhi Airport Metro Express debts as NPAs


SC bars banks from declaring Delhi Airport Metro Express debts as NPAs

The Supreme Court on Monday restrained banks from declaring the debts of Reliance Infrastructure’s subsidiary Delhi Airport Metro Express (DAMEPL) as non-performing assets until further orders.

A bench headed by Justice SA Bobde said the loan, in principle, should be serviced by whoever is running the project as of now. Since April 10 last year, Delhi Metro Rail Corporation (DMRC) has been servicing the Reliance firm’s debt taken from a consortium of lenders for execution of the project. The court will now hear the case in July.

DMRC has been running the Airport Express line since 2013 after DAMEPL pulled out from running the Airport Express Metro line over safety issues. The Airport Express line was commissioned on February 23, 2011. Read More

Leave a Reply

Your email address will not be published.