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NEW DELHI : Delhi Metro Rail Corporation (DMRC) has invited bids from 18 banks for raising loans from ₹2,700 crore to pay Reliance Infrastructure’s subsidiary Delhi Airport Metro Express Private Limited (DAMEPL), as per the Supreme Court order.
DMRC has already paid ₹2,444 crores to DAMEPL, based on court orders from time to time. In a letter dated May 19, DMRC wrote to 18 banks seeking bids by May 30, 2022, but the deadline for submission of bids was later extended to June 10, 2022 (Tuesday). DMRC’s letter went to SBI, Akis Bank, Bank of Baroda, Bank of India, Canara bank, HDFC, ICICI, Kotak and PNB among others.
“DMRC proposes to raise a loan of Rs ₹2,700 kroner for the purchase of the property of Airport Line. Banks willing to extend the said loan are requested to submit their offer,” the letter states. The key parameters of the offer are the amount ( ₹2700 cr) to be withdrawn within 12 months; term, 15 years (including 4 years of moratorium); quarterly principal repayment and monthly interest repayment. Based on the arbitral award and related SC judgments, the current enhanced interest per day for late payment to DAMEPL is ₹1.15 crowns.
DMRC already had an additional interest liability of more than ₹300 crowns from 10/09/2021 to 31/05/2022 due to late payment to DAMEPL.
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