International Development News
Development News Edition
Give Feedback

Operational loss in Delhi metro Phase IV project to be borne by Delhi govt, says SC


PTI New Delhi
Updated: 06-09-2019 14:36 IST
Operational loss in Delhi metro Phase IV project to be borne by Delhi govt, says SC

The Supreme Court Friday directed that the operational loss, if any, in the 103.94 km long Phase IV of the Delhi Metro project would be borne by the Delhi government as it is a mode of conveyance in the national capital. The apex court said that the Delhi government is bound to ensure that the financial health of Delhi Metro Rail Corporation (DMRC) is maintained properly and no steps are taken that might result in losses.

The top court however directed that the land cost for the project would be borne by the Centre and the Delhi government equally, in 50:50 ratio. A bench of justices Arun Mishra and Deepak Gupta asked the authorities concerned to ensure that no delay is caused in the Phase IV metro project and the total land cost of Rs 2,447.19 crore is released forthwith.

The bench directed both the Centre and the Delhi government to work out the modalities and release the amount of land cost within three weeks.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

COUNTRY : India