Banks funding Delhi airport metro line under scanner
By Vaibhav Aggarwal
Oct 3, 2013
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Certain banks have come under the lens of Central Vigilance Commission due to their role in funding the Delhi airport line for Metro with Rs 2200 crore. Besides, the road ministry in Delhi has also asked the Central Vigilance Commission to investigate to see if the NHAI, the developer and banks have disregarded any norms during the development of the Delhi-Gurgaon Expressway with Rs 1600 crores.

Reliance Infra had bagged the project for developing the Airport Metro Express. For this purpose the lenders to this project had advanced a loan amounting to Rs 2220 crore. This loan was provided against the security of a government-approved debt. Axis Bank was leading among the lenders. The pattern for funding the project was mentioned and it spoke about equity, debt component and also about contributions from DMRC, Delhi Government and the Union Government. DMRC was given approval for higher funding but no such approval was provided to private players.

(Comments Posted : 1) Post Your Comments
1. The role of NHAI officials and Consultants should also be investigated who are gettimg the commissions lenked to cost of projects. It all has not happened in one day and every thing has happened with the knowledge and connivance of NHAI officials and Consultants and they can not escape from their accountability and responsibilities. It is all like a big scam controlled by NHAI.
Ramesh Kumar (Posted: Oct 4, 2013)
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