Mumbai: Mumbai Metro One Private Ltd’s (MMOPL) failed debt-restructuring agreement has raised questions over its plan to introduce longer trains on the Versova-Andheri-Ghatkopar corridor, although daily services are not expected to be affected.

The July 9 agreement with government-backed National Asset Reconstruction Company Ltd (NARCL) was conditional on approval from another lender, India Infrastructure Finance Company (UK) Ltd (IIFCL UK). After the approval failed to materialise, NARCL revoked the agreement. IIFCL UK subsequently approached the National Company Law Tribunal on September 29 to revive insolvency proceedings.

The restructuring would have reduced MMOPL’s NARCL debt by more than Rs 1,100 crore. The company reportedly owes NARCL Rs 2,771.32 crore and IIFCL UK another Rs 1,745 crore.

The financial uncertainty could delay plans to procure 22 additional coaches, costing approximately Rs 330 crore, to convert at least 11 four-car trains into six-car services. MMOPL had said progress depended on financial restructuring and fund availability.

According to the Mumbai Metropolitan Region Development Authority, a six-car train can carry 1,792 passengers, compared with 1,178 in a four-car train, increasing capacity by around 52 per cent.

The 11.4-km corridor, operational since June 2014, connects Mumbai’s western and eastern suburbs through Andheri and Ghatkopar, carrying around five lakh passengers on weekdays.

While the collapse does not signal an immediate disruption to services, uncertainty remains over the procurement and deployment of additional coaches. MMOPL’s chief executive declined to comment, citing ongoing legal proceedings. The timeline for the proposed capacity expansion remains unclear.