+
NCLT Disposes SBI, IDBI Bankruptcy Plea Against Mumbai Metro One
RAILWAYS & METRO RAIL

NCLT Disposes SBI, IDBI Bankruptcy Plea Against Mumbai Metro One

The National Company Law Tribunal (NCLT) has disposed of the bankruptcy petition filed by SBI and IDBI against Mumbai Metro One. This resolution marks a significant step in the legal proceedings concerning the metro project, alleviating concerns surrounding its financial stability.

SBI and IDBI had initiated bankruptcy proceedings against Mumbai Metro One due to alleged defaults on loan repayments. However, the NCLT has now disposed of the case, indicating progress towards resolving the financial disputes surrounding the infrastructure project.

The disposal of the bankruptcy petition is expected to bring relief to Mumbai Metro One and its stakeholders, ensuring the continued operation and maintenance of the vital urban transportation system. It underscores the importance of addressing financial challenges promptly to safeguard critical infrastructure projects.

The resolution of the bankruptcy case reflects efforts to amicably settle disputes and avoid disruptions to essential services. It demonstrates a commitment to upholding contractual obligations and fostering a conducive environment for infrastructure development and investment in India.

Moving forward, Mumbai Metro One and its creditors are likely to work towards restructuring outstanding debts and ensuring sustainable financial management to prevent future defaults. The resolution of the bankruptcy petition paves the way for the metro project to fulfil its role in enhancing urban transportation and connectivity in Mumbai.

The National Company Law Tribunal (NCLT) has disposed of the bankruptcy petition filed by SBI and IDBI against Mumbai Metro One. This resolution marks a significant step in the legal proceedings concerning the metro project, alleviating concerns surrounding its financial stability. SBI and IDBI had initiated bankruptcy proceedings against Mumbai Metro One due to alleged defaults on loan repayments. However, the NCLT has now disposed of the case, indicating progress towards resolving the financial disputes surrounding the infrastructure project. The disposal of the bankruptcy petition is expected to bring relief to Mumbai Metro One and its stakeholders, ensuring the continued operation and maintenance of the vital urban transportation system. It underscores the importance of addressing financial challenges promptly to safeguard critical infrastructure projects. The resolution of the bankruptcy case reflects efforts to amicably settle disputes and avoid disruptions to essential services. It demonstrates a commitment to upholding contractual obligations and fostering a conducive environment for infrastructure development and investment in India. Moving forward, Mumbai Metro One and its creditors are likely to work towards restructuring outstanding debts and ensuring sustainable financial management to prevent future defaults. The resolution of the bankruptcy petition paves the way for the metro project to fulfil its role in enhancing urban transportation and connectivity in Mumbai.

Next Story
Real Estate

Heena Lalwani Buys Rs 1.13 Billion Juhu Apartment

Heena Lalwani, promoter of Aatman Innovations Private Limited, has purchased a luxury apartment worth Rs 1.13 billion in Mumbai’s upscale Juhu locality, according to property registration documents accessed by Zapkey.com.The 9,862 sq ft apartment, located on the 10th floor of Lodha Developers’ Avalon Tower, was acquired at Rs 115,000 per sq ft and comes with five car parking spaces. The deal, registered on 18 August 2025, also included the payment of Rs 68 million in stamp duty and a Rs 30,000 registration fee.Lodha Developers did not respond to queries regarding the transaction, while the..

Next Story
Real Estate

Godrej Buys KPHB Land for Rs 7 Billion in E-Auction

An acre of prime land in Kukatpally Housing Board (KPHB), Hyderabad, was auctioned for Rs 7 billion, with the Telangana Housing Board generating Rs 5.47 billion from the sale of 7.8 acres through e-auction on 20 August 2025.The auction notification was issued last month, attracting bids from Godrej Properties, Aurobindo Realty, Prestige Estates, and Ashoka Builders, according to Board vice-chairman V.P. Gautham. With an offset price of Rs 4 billion per acre, the three-hour auction saw 46 bid increases, before Godrej Properties acquired the land.Revenue generated from the auction will be utilis..

Next Story
Real Estate

HMDA to Auction 93 Prime Plots in September

The Hyderabad Metropolitan Development Authority (HMDA) is preparing to conduct a three-day auction of prime open plots across Hyderabad, Rangareddy, and Medchal-Malkajgiri districts this September.According to official reports, the e-auction will take place on 17, 18, and 19 September, offering 93 plots. Of these, 70 are located in the Bachupally HMDA layout, with the remainder spread across Turkayamjal, Kokapet, Poppalguda, Chandanagar, Bairagiguda, Gandi Maisamma, Suraram, Medipally, and Bachupally village.The highest upset price has been fixed at Rs 175,000 per square yard for a land parce..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?