BMC's review petition rejects, orders refund of property tax

17 Apr 2023 CW Team

According to the Capital Valuation System, the Supreme Court has ordered the Brihanmumbai Municipal Corporation (BMC) to reevaluate the capital value of every property in Mumbai and reimburse residents who paid property tax for the years 2010 to 2012. (CVS).

This comes after, according to sources, the Supreme Court denied the BMC's petition for review against a Bombay High Court ruling from 2019.

The BMC was ordered to create new regulations and issue new bills after the high court overturned some rules it had created for retrospective tax assessment.

Infrastructure Energy

09 Jan 2026

TARIL Q3 FY26 Revenue Jumps 32% to Rs 7.36 Bn, Profits Surge

Transformers & Rectifiers (India) (TARIL) reported a robust financial performance for the third quarter ended December 31, 2025, posting strong growth across revenue and profitability metrics. The company, a leading manufacturer of power and specialty transformers, benefited from improved operating leverage, disciplined execution and ongoing process optimisation initiatives.During the quarter, TARIL recorded consolidated revenue from operations of Rs 7.36 billion, marking a year-on-year growth of 32 per cent. EBITDA stood at Rs 1.29 billion, up 38 per cent year-on-year, while profit after ..

Green Power International Wins 384 TKM Rail Electrification Deal

Green Power International has secured a 384 track kilometre (TKM) overhead electrification contract from South-Eastern Railway for the Adra Division, further strengthening its presence in India’s railway electrification segment. The project involves upgrading the existing electric traction system from 1x25 kV to 2x25 kV on key routes within the division.Under the contract, Green Power International will undertake the design, supply, erection, testing and commissioning of the upgraded traction system for the Asansol–Adra–Bhojudih–Dhanbad section. The scope of work will be executed in ac..

Teknovace, Remmers Forge Rs 3 Bn Deal for Global Coatings Hub

Teknovace has entered into a strategic global partnership with Germany-based Remmers Gruppe SE to build a large-scale, export-oriented wood coatings manufacturing platform in India. As part of the alliance, Remmers will make a strategic equity investment of Rs 3 billion to acquire a 50.01 per cent stake in Teknovace in two tranches, marking one of the largest foreign strategic investments in India’s wood coatings sector.The partnership comes at a time when India’s wood coatings market, valued at around $1.3 billion (Rs 100 billion), is growing at an estimated 11% annually, driven by demand..