New Delhi, July 12 - Delhi Metro managing director E. Sreedharan resigned after an accident on a construction site claimed five lives Sunday, but Delhi Chief Minister rejected his resignation.

'He (Sreedharan) is a thorough gentleman and very responsible but we feel that the (inquiry) committee has been appointed and its report is due in 10 days. The reason for the unfortunate event will be known then. At this time, we won't accept Sreedharan's resignation,' Dikshit told the Zee News.

If the technocrat steps down, it will 'stop work on the Delhi Metro, which is crucial', she added.

She was commenting after a meeting on the Sunday morning tragedy in south Delhi.

Delhi Metro Rail Corporation (DMRC) managing director Sreedharan, 77, told a press conference in this afternoon: 'I have been in charge of the Metro since the beginning. I take full responsibility for the accident, and having taken the full moral responsibility I resign as the managing director of the Delhi Metro.'