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nor did they go for open bidding to have better terms in favour of the public," the transporters had claimed.
The DIMTS, an equal equity joint venture of Delhi government and Infrastructure Development Finance Company (IDFC), has handled various projects including construction of ISBT, Kashmere Gate, construction of bus depots, maintenance of BRT corridor and other related projects.
The BRT corridor project in South Delhi has faced flak since its inception. In a report last year, the Central Road Research Institute favoured dismantling it.
DIMTS was incorporated in April 2006 as a fully owned Special Purpose Vehicle (SPV) of the Delhi government. Later in June 2007, DIMTS became a joint venture of Delhi government and IDFC with each holding 50 per cent of the shares.
Both entities had invested Rs 7.3 crore each leading to a total paid up capital of Rs 14.6 crore. Delhi government and IDFC each haVE an equal number of directors on the DIMTS Board, chaired by the chief secretary.
It had a turnover of Rs 79.54 crore during 2012-13 and a turnover of around Rs 70 crore is projected during the current financial year.