Mumbai Metro One, which operates the Versova-Andheri-Ghatkopar corridor, has received a major financial lifeline after signing a debt restructuring agreement that will reduce its debt by more than Rs 1,100 crore. Insolvency proceedings against the company will also be withdrawn.

Mumbai Metro One Private Limited (MMOPL) has signed a debt restructuring agreement with the government-backed National Asset Reconstruction Company Limited (NARCL). The agreement is valued at Rs 2,771.32 crore.