AFTER FACING LAND acquisition hurdles in Maharashtra for more than three years, the country’s first high-speed or bullet train project appears back on track, after a new government came to power in the state in June 2022. The progress is welcome after the sharp slowdown in the pace of work witnessed during the previous Uddhav Thackeray-led Maha Vikas Aghadi government’s 31-month tenure from November 2019, which often led to speculation that the Mumbai-Ahmedabad corridor, already three years behind schedule, might get delayed further. Thackeray had gone on record criticising the high-profile project, and questioned its benefits.
However, one challenge remains: the state’s bid to acquire 9.69 acres of land belonging to Godrej & Boyce Manufacturing Co. in Mumbai’s Vikhroli has not yet come through. In a plea filed with the Bombay High Court, the company has described the move as “illegal and bad in law”. Challenging the state’s civil suit, it has questioned an amendment to the Land Acquisition Act of 2013, exempting the project from social impact assessment and described the ₹264-crore compensation offered as “inadequate”, compared to the ₹572 crore proposed earlier. Since 2019, the state government and the company have been locked in a bitter dispute over the land that is proposed to be developed as an entry point to the underground part of the project.
Opposing the Godrej & Boyce petition on behalf of the National HighSpeed Rail Corporation Ltd (NHSRCL) and the Central government, Additional Solicitor General Anil Singh told the High Court bench of Justice R.D. Dhanuka and Justice M.M. Sathaye that the delay had resulted in a cost escalation of up to ₹1,000 crore.
هذه القصة مأخوذة من طبعة January 22, 2023 من Business Today India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة January 22, 2023 من Business Today India.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Pension Scheme - Safety Net
The move to introduce the UPS has evoked mixed reactions. Analysts believe its funding will have limited impact on the fiscal math
The Reit Choice?
Real Estate Investment Trusts (Reits) Are Gaining Traction As Interest Rates Stabilise. But Returns Could Be Affected By Adverse Economic Conditions And Market Volatility
CORPORATE - Calling to Account
The sudden exit of Byju's auditor BDO marks the latest in a long series of setbacks for the edtech firm
EMPLOYMENT: Skills Push
The skill development ministry plans to partner with the UGC to improve the employability of undergraduates
Building on a Vision
L&T'S CHAIRMAN EMERITUS A. M. NAIK HAS BUILT A MAMMOTH ENTERPRISE THAT IS BUILDING A NEW INDIA, FROM ITS METRO RAIL SYSTEMS TO THE RAM TEMPLE
"KYS more important than KYC"
Vijay Kedia is a renowned equity investor; the value of his listed portfolio stands at around ₹1,750 crore
ROXX STAR
THE THAR ROXX COMBINES LUXURY WITH PERFORMANCE TO MAKE A STRONG STATEMENT IN THE MID-SIZE SUV SEGMENT
HIT THE GROUND RUNNING
Smartwatches have become indispensable tools for runners, offering real-time insights into pace, distance, heart rate, and more. Here are a few you can consider
TURNING THE TABLES
INDIA'S FURNITURE MARKET IS POISED FOR A GLOBAL TAKE-OFF. ALREADY, A HOST OF GLOBAL BRANDS HAVE MADE THE COUNTRY THEIR HOME, BUT INDIAN COMPANIES ARE NOT TOO FAR BEHIND
THE EVOLUTION OF ATHERA
IDENTIFYING OPPORTUNITIES IN ADVANCE HAS STOOD THIS BENGALURU-BASED VC FUND IN GOOD STEAD. NOW, WITH A HEIGHTENED FOCUS ON TECHNOLOGY, IT WANTS TO SUSTAIN THE SUCCESS