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Millennium Post

Fundraiser: DMRC encashes DAMEPL bank guarantee

Within three days of taking over the operation of Delhi Airport Expressline Metro, the Delhi Metro Rail Corporation (DMRC) has encashed the bank guarantee deposited by Reliance Infra worth Rs 55 crore. Delhi Metro has intimated the union urban development ministry and the transport depart of Delhi government of the same.

According to urban development ministry sources, the information was sent by Delhi Metro’s chief engineer and it was said that Delhi Airport Metro Express Private Limited (DAMEPL), the erstwhile concessionaire of the airport metro, had violated the agreement between the two, and therefore DMRC has encashed the bank guarantee.

When Millennium Post contacted the Reliance Infra spokesperson he refused to comment on the subject. Urban development ministry sources said that the amount would be used to pay the huge outstanding bills of the Central Industrial Security Force (CISF), New Delhi Municipal Council’s property tax and electricity charges.

When contacted, the DAMEPL spokesperson too refused to comment on the matter.
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