THE Delhi Metro Rail Corporation (DMRC) is in dire straits. As per a 2017 arbital award order, it has to pay its Reliance subsidiary, Delhi Airport Metro Express Pvt. Ltd (DAMPEL), a whopping Rs 7,010.08 crore.
During a recent hearing at the Delhi High Court, DMRC said that it had sought Rs 3,500 crore each from the central and Delhi governments, both of which are equity partners of the Metro. In another affidavit, DMRC said that it had decided against taking any further bank loans as it was already "reeling under financial crisis" and it may lead to a "debt trap". The High Court was hearing a petition filed by DAMPEL regarding the payment of the arbitration amount.
As of May 31, 2022, DMRC had incurred an interest liability of over Rs 300 crore due to delays in payment to the Reliance subsidiary. It is adding more than Rs 1.15 crore every day to its interest load. The debt crisis of Delhi Metro has raised questions about the financial viability of the metro system. It has also raised uncomfortable questions about the primacy of the metro over other modes of transport.
The Delhi Metro is a mass rapid transit system serving Delhi and its satellite cities-Ghaziabad, Faridabad, Gurgaon, Noida, Bahadurgarh, and Ballabhgarh-in the National Capital Region. The Delhi Metro is the largest metro system in India and considered one of the most "successful" public transport projects.
Over the years, it has seen an exponential rise in ridership. It was ranked 2nd of 18 international metro railway systems across the world in customer satisfaction. It had also reduced carbon emissions in the city and the United Nations had recognised it. With so many accolades under its belt, what went wrong?
この記事は India Legal の October 31, 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は India Legal の October 31, 2022 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
PIL, Difficult To Swallow?
In a recent ruling, the Bombay High Court lamented the increasing number of frivolous public interest litigations being filed in courts and echoed the sentiments of the Supreme Court that such litigations are the bane of the judicial system. Is there any way to restrict their misuse?
Till Infertility Do Us Part...
The Calcutta High Court slammed a husband for initiating divorce proceedings due to his wife's infertility and asked him to be a pillar of support for her. Courts have often taken an empathetic view in such matters
IS THAT LEGAL?
Ignorance of law is no excuse. Here are answers to frequently asked queries regarding matters that affect us on a day-to-day basis
The Big Lie
In America, The Big Lie is an idiom used by Donald Trump's opponents and the media to describe his constant gripe about election fraud. Now, it seems more suited to another Republican, Congressman George Santos (right), who has been facing growing calls to resign after he admitted fabricating parts of his resume and biography since his election in New York last year.
Flying into the Sunset
Over 50 years since the first and original jumbo jet, the Boeing 747, took to the skies and revolutionized air travel, the last of the legendary aircraft (right) was delivered to a freight charter company, bringing down the curtain on one of aviation's most successful products.
Star Crossed
Actor and producer Alec Baldwin is a Hollywood legend, having starred in a range of movies, award winning TV sitcoms, and theatre. He was most recently seen in Mission Impossible Fallout, which is an apt description of his current situation.
Walkouts in the UK
An estimated half a million workers have gone on strike, shutting down thousands of schools, public transport and border disruption. It is the biggest day of industrial action for more than a decade.
Myanmar's Misery
Two years after the military coup ousted the elected government led by Aung San Suu Kyi, the brutal crackdown by the junta on so-called \"insurgents\" and civilian protesters has reached a new level with the use of air strikes, a new and deadly tactic in the ongoing civil war.
AMERICA'S ANGST
From messy, divisive politics to a series of mass shootings, and now black officers brutally beating another black man to death as seen in bodycam videos, America's domestic convulsions are cause for serious introspection
JUSTICE LEAGUE
There are few judicial appointment procedures in the world that are completely bereft of the overarching presence of either the executive or the legislature, or both. In the end, the judge is left with all the powers vested in him/her by the constitution to uphold the rule of law, within an atmosphere of external influences
