"They (DAMEPL) sent the notice. But, we have rejected," Singh told reporters here.
"Repairs are almost complete. The Line will undergo a safety inspection and then will be opened," he said.
DAMEPL has been struggling to run the line ever since the operations were launched in February, 2011 and operations were suspended on July 8 after defects were found on civil structure.
Since then, the DMRC and DAMEPL have been at loggerheads over the corridor and a letter war between the two seems to have culminated with a communication from DAMEPL in early October that they want to terminate the Concession Agreement.
However, Delhi Metro rejected the offer and based on a suggestion from DAMEPL the issues will now head for arbitration.
It is learnt that the DAMEPL raised several issues rgerading the financial non-viability of the country's first Public-Private Partnership Metro project with the Delhi Metro and even sought for some restructuring of the model under which the corridor was being run.
DAMEPL refused to comment on the termination notice issue.
A spokesperson merely said: "The repair work executed by DMRC is nearing completion. We will recommence the operations of Airport Metro line soon after getting the necessary safety clearances. DAMEPL, as the Concessionaire will run the line."