DMRC seeks to raise Rs 2,700-crore loan to pay Reliance Infrastructure

As of May 31, DMRC has incurred an interest liability of over Rs 300 crore solely on account of delays in payment to DAMEPL

A month after the Supreme Court directed the Delhi Metro Rail Corp (DMRC) to bring Rs 4,600 crore out of its coffers for its long-standing liability to a Reliance Infra (RInfra) subsidiary, DMRC has written to 18 banks, inviting bids to raise a Rs 2,700-crore loan.

The court had upheld a Delhi High Court order, conse­quent to which DMRC is to pay the arbitral award amount, alo­ng with interest, to Reliance In­fra-owned Delhi Airport Metro Express Private Limited (DAM­EPL) in two equal instalments.

The sought loan amount is the balance of what DMRC owes to DAMEPL, people in the know said. Through