Maharashtra Offers to Settle Rs 1,700 Crore Debt of Metro 1 in Place of Acquisition
Friday, 5 July 2024, 16:15
Maharashtra Offers Debt Settlement for Metro 1
In a strategic move, Maharashtra has opted to repay Metro 1's substantial debt of Rs 1,700 crore, diverting from the initial acquisition proposal.
Meeting with Major Lenders
- Mumbai Metropolitan Region Development Authority (MMRDA) Commissioner to engage with six key lenders.
- Lenders include State Bank of India, IDBI Bank, Canara Bank, Indian Bank, Bank of Maharashtra, and IIFCL (UK).
The primary focus of the discussions will be on negotiating the One Time Settlement (OTS) for the debt outstanding.
This shift in strategy could have substantial implications for both Metro 1 and the involved financial institutions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.