The agreement was executed on July 9, 2026, between MMOPL and NARCL. MMOPL is a joint venture between Reliance Infrastructure, which holds a 74% equity stake, and the Mumbai Metropolitan Region Development Authority (MMRDA), which owns the remaining 26%. The company owns, operates and maintains the Versova–Andheri–Ghatkopar Metro Line-1.
According to the company, the restructuring will reduce MMOPL’s current debt payable to NARCL by more than ₹1,100 crore as of March 31, 2026. It will also lead to the withdrawal of the insolvency proceedings initiated against MMOPL.
Reliance Infrastructure said the restructuring marks a significant milestone in resolving MMOPL’s debt and strengthening its financial position. The company said the agreement will enable MMOPL 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.
As part of the disclosure, the company said the restructuring agreement covers MMOPL’s entire financial obligations towards NARCL and is valued at ₹2,771.32 crore. Under the agreement, NARCL will have the right to nominate a director to MMOPL’s board and a monitoring committee comprising representatives of the lender and MMOPL will oversee the implementation of the restructuring.
MMOPL operates Mumbai’s Versova–Andheri–Ghatkopar Metro Line-1, which the company said serves more than five lakh commuters every day.
