As per the Master Restructuring Agreement (MRA), NARCL has right to nominate a director on the Board of MMOPL.

Mumbai Metro One Private Ltd’s (MMOPL) debt will reduce by more than ₹1,100 crore and the insolvency proceedings initiated against it will be withdrawn as per a Debt Restructuring Agreement it entered into with the National Asset Reconstruction Company Ltd (NARCL).

MMOPL, which owns, operates and maintains the heartline of Mumbai’s East West connectivity “Versova–Andheri–Ghatkopar Metro Line-1”, is a 74:26 joint venture between Reliance Infrastructure Ltd and Mumbai Metropolitan Region Development Authority (MMRDA). This line, which has a length of 11.4 km, has a ridership of over 5 lakhs commuters every day.

The Agreement, whose size is ₹2,771.32 crore and was executed on July 9, 2026, provides for restructuring of the entire financial obligations of MMOPL towards the Government-owned NARCL, Reliance Infrastructure said in a regulatory filing.

As per the Master Restructuring Agreement (MRA), NARCL has right to nominate a director on the Board of MMOPL.

The MRA also, provides for the constitution of a Monitoring Committee comprising representatives of the lender and MMOPL to oversee the implementation of the restructuring, and contains customary affirmative and negative covenants, including restrictions on certain corporate actions without the prior written consent of the lenders, the filing said.

“The debt restructuring marks a significant milestone in resolving MMOPL’s debt and strengthening its financial position, enabling it to continue focusing on the efficient and uninterrupted operation and maintenance of the Versova–Andheri–Ghatkopar Metro Line-1, while reinforcing its long-term operational sustainability,” per the filing.

Published on July 10, 2026