The Bombay High Court has upheld the Maharashtra State Housing Department's award of the Dharavi slum rehabilitation project to Adani Properties Pvt. Ltd, dismissing a legal challenge from Dubai's Seclink Technology Corp. The ruling clears the way for the Gautam Adani-promoted entity to lead the redevelopment of the 259-hectare slum in central Mumbai, one of Asia's largest.
Seclink, which lost the bid to Adani in 2022, argued its ₹7,200 crore offer was not only higher but more deserving than Adani's ₹5,069 crore bid. It also alleged that the state government's decision to cancel the earlier tender and issue a fresh one was biased, violating the principles of natural justice.
Seclink's lawyer told Mint it will challenge the order in the Supreme Court.
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Denne historien er fra December 21, 2024-utgaven av Mint Bangalore.
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'Adani foray into cement drives deep discounts'
Competition in India's cement sector heated up with the entrance of the Adani Group in September 2022, top manufacturers bumped up discounts to maintain market share, according to a report from British wealth manager Investec.
Capex flexibility tops states' budget wishlist
Kerala, Punjab call for special financial packages, higher borrowing limits
Tata Steel's Dutch plant gets warning
Tata Steel Netherlands will face fines of almost €27 million if it doesn't take measures within eight weeks
Markets reel from highest weekly fall in 30 months
Even buying by rebalancing of Sensex and FTSE indices was absorbed by the markets due to the FPI selling.
Banks win SC relief on 30% credit interest cap
The Supreme Court on Friday overturned the National Consumer Disputes Redressal Commission (NCDRC)'s 2008 decision to cap interest rates on late credit card bill payments at 30% per annum, bringing relief to lenders that had appealed the consumer forum's ruling.
Leave a movie midway, and get some money back
PVR Inox's move is part of efforts to widen audience base and improve movie-going frequency
Pushpa 2 most-watched film of 2024, Coldplay hot
Nostalgia also took centre stage with re-releases like Kal Ho Naa Ho, Rockstar and Laila Majnu still drawing viewers
Claims of Reliance Infratel's indirect creditors upheld
The apex court upheld ₹10,952 crore claims by four indirect creditors of Anil Ambani-led RCom's tower biz
Bombay HC upholds Adani's bid to develop Dharavi slum
The project gained momentum in 2016 under the Bharatiya Janata Party-Shiv Sena led govt
Sexual wellness products garner interest
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