Maharashtra govt set to clear Reliance Infrastructure arm's Rs 1,700 cr metro debt

The Eknath Shinde government appears to have abandoned its plans to acquire Metro 1. Instead, the state cabinet has directed the MMRDA's executive committee to explore settling Mumbai Metro One Pvt Ltd's (MMOPL) Rs 1,700 crore debt with its creditors through a one-time settlement. Metro 1, Mumbai's oldest corridor serving 4.6 lakh daily passengers, operates under a public-private partnership by the Reliance Infrastructure-promoted MMOPL, with MMRDA holding a 26% stake and R-Infra holding 74%.