Supreme Court Limits Open Space Deficiency Premium to 10%

18 Aug 2023 CW Team

The Supreme Court upholds a Bombay High Court ruling, directing BMC to charge only a 10% premium for open space deficiency The Supreme Court has reaffirmed a 2017 decision by the Bombay High Court regarding the premium charged for open space deficiency. The court stated that the premium can only be 10% and not the previously charged 100%. This directive was given to the BMC (Brihanmumbai Municipal Corporation), instructing them to deduct the premium at the stipulated 10% rate and refund the excess amount with interest within six weeks to Wadhwa Estate and Developer (I) Pvt. Ltd. The case originated in 2011 when the developer submitted a proposal for the redevelopment of a MHADA building and sought leniency for open space deficiency. The BMC, in response, issued a demand notice charging a premium at a rate of 100%, which amounted to roughly Rs 5 crore. The developer argued that since the redevelopment was under Regulation 33(10) for Economically Weaker Sections, Low Income Group, and Middle-Income Group tenements, the BMC should only charge 10% of the premium. The BMC's refusal led the developer to approach the Bombay High Court.

Infrastructure Energy

03 Nov 2025

Bondada Engineering Posts 153 per cent Revenue Growth

Bondada Engineering (BEL), a leading solar EPC and infrastructure company, announced strong financial results for the half-year ending September 30, 2025. The company achieved a 153 per cent increase in consolidated revenue and a 151 per cent rise in profit after tax (PAT) compared to the previous period. Consolidated revenue reached Rs 12.16 billion, with an EBITDA of Rs 1.43 billion and PAT of Rs 925 million. The company’s order book stood at Rs 59.9 billion, ensuring continued growth momentum. The Renewable Energy segment contributed 78% (Rs 9.5 billion) to total revenue, followed by T..

Culture Circle Unveils Insta Ship for India’s Fastest 24-Hour Delivery

Culture Circle, India’s leading hype and luxury fashion app, has unveiled Insta Ship, a groundbreaking 24-hour delivery feature that allows customers to receive their favourite fashion items within a day of placing an order. This marks India’s first-ever 24-hour delivery initiative in the luxury and hype fashion space, setting new standards for speed and customer experience. Insta Ship provides access to a wide range of premium brands such as Nike, Adidas, Yeezy, Jordan, Louis Vuitton, Balenciaga, Dior, and more, allowing fashion-forward consumers to enjoy their exclusive pieces faster th..

Blue Dart Reports Rs 795 mn Profit in Q2FY26 Results

Blue Dart Express has announced its financial results for Q2FY26, posting a profit after tax of Rs 795 million for the quarter ending September 30, 2025. The company’s revenue from operations stood at Rs 15.49 billion. The company continues to strengthen its infrastructure with strategic investments in ground hubs and automation, boosting network scalability, speed, and accuracy. Balfour Manuel, Managing Director, commented, “Our performance highlights the resilience of our business model. We remain optimistic about growth opportunities in India’s logistics sector, supported by rising ..