Rapid MetroRail Gurgaon Limited (RMGL) was on Friday given permission to hand over the project to the Haryana Shahari Vikas Pradhikaran (HSVP), formerly Haryana Urban Development Authority, on or before September 9.
Justice (retd.) D.K. Jain, former Supreme Court Judge mandated to oversee the IL&FS resolution process in the case, also upheld the termination notice served by RMGL to HSVP in June.
In a related development, the Punjab and Haryana High Court on Friday ordered that the entire line should remain operational till September 9 midnight.
It will hear the matter on Monday.
Urgent hearing
The petition by Haryana Mass Rapid Transport Corporation Limited and another petitioner was filed and fixed for hearing on Friday itself due to its urgent nature.
RMGL and Rapid MetroRail Gurgaon South Limited (RMGSL) are the two special purpose vehicles running rapid metro since 2013 and 2017 respectively. The two SPVs had served termination notices to HSVP on June 7 alleging various breaches in concession contract by it and had given a 90-day notice as per the agreement.
The HSVP has termed the notice illegal, arbitrary and against larger public interest.
Pursuant to direction of the National Company Law Appellate Tribunal order on August 8, RMGSL and RMGL being red entities were required to seek prior approval from Mr. Jain before transferring the asset.
In the order, Mr. Jain also said that HSVP would be free to engage the services of RMGL at mutually discussed charges to run the metro link till such time appropriate or alternate arrangements were made to run the link. After September 9, it will be incumbent on HSVP to ensure operations run unhindered, said an IL&FS spokesperson.
