Maharashtra Government has approved the proposal to purchase Mumbai Metro one...

Anil Ambani the Owner of Reliance Private Infrastructure has Given a Proposal to Sell Mumbai Corridor One and Finally the Proposal For Approval and Maharastra Government is Ready to Purchase Mumbai Metro One Corridor Owned my RIL. 

Mumbai Metro One Corridor is Valued at 4000 Crores 

Anil Ambani's Reliance Infrastructure Pvt. Ltd. The proposal to sell Ghatkopar-Versova, Mumbai Metro Corridor One to the State Government has been approved by the Maharashtra Cabinet.

The valuation of Anil Ambani's Reliance Infrastructure's stake in Mumbai Metro One Private Limited has been estimated at Rs 4000 crore. 

Dispute Going on So Many Year Between among Shareholders 

There has been a dispute going on among the stakeholders  of  Mumbai Metro One Private Limited MMOPL since the very beginning regarding the valuation of the company, its cost and ticket structure. 

Keeping this in mind, a study group was formed led by retired IAS officer and former Chief Minister Johnny Joseph. According to the study, Reliance Infrastructure has 74% stake in MMOPL whose valuation is Rs 4000 crore and Mumbai Metropolitan Region Development Authority hold 26% stake of the company. According to the report, the panel draw conclusions using cash flow models and reports from financial advisor KROLL.

There was a dispute going on between Reliance Infrastructure and MMARD regarding MMOPL since long. The subject of controversy was that despite being Mumbai's most crowded metro line, MMOPL has been incurring losses since 2014, carrying 4.6 lakh passengers weekly and operating 408 trips.

In Addition to this MMARD claims, that the cost of Mumbai Metro One Ghatkopar - Versova project is Rs 4026 crore, while on the other hand, Reliance Infrastructure claims that the actual cost of the project to be Rs 2356 crore. Also, Brihanmumbai Municipal Corporation BMC has also asked MMOPL several times to pay property tax.

In view of these losses, Anil Ambani's Reliance Infrastructure proposed to sell its stake in MMOPL to the Maharashtra State Government during the 2019 Covid-19 pandemic.

The Ex Chief Minister of Maharashtra, Prithviraj Chavan criticised the decisions saying that "There was a dispute about the acquisition price. The financial and legal advice to the government was that the price quoted was very high. But this government is favouring the Anil Ambani group,".