UP govt suspends cancellation of land allotment to M3M group

13 Jun 2024 CW Team

In an official communication to the Noida Authority, Principal Secretary Anil Kumar Sagar stated that a complaint received in February alleged violations by these companies of rules and conditions outlined in the Authority's e-brochure for the e-tender scheme. "Specifically, commercial plot number 01 in Sector 94 allotted to M/s Lavish Buildmart Pvt Ltd, and commercial plot number MPC-01 in Sector 72 allotted to M/s Skyline Propcon Pvt Ltd were cancelled initially on May 10, 2024," Sagar mentioned.

However, after receiving a request for reconsideration from Yatish Vahal, Authorised Signatory/Director, M3M group, on May 13, 2024, the government opted to review the matter. The decision to suspend the cancellation order, issued on May 10, 2024, came after thorough consideration of reports submitted by the Noida Authority and appeals from the companies.

"The Noida Authority has been directed to take necessary actions based on this decision," Sagar added in his letter. The M3M group welcomed the government's move, highlighting that the projects launched in Noida 18 months ago have seen substantial investment in land costs and construction, totaling Rs 15.01 billion. The group affirmed its commitment to Uttar Pradesh, emphasising job creation and economic opportunities, alongside its dedication to delivering landmark projects in the state.

The total projected cost for both developments amounts to approximately Rs 55 billion, with 45% of the units already sold to 1,400 investors, according to the group's statement. (Source: ET Infra)

The Uttar Pradesh government has decided to pause the cancellation of commercial plot allotments in Noida to M3M group companies Lavish Buildmart and Skyline Propcon, opting instead to review the decision. This move follows appeals from the companies and reports submitted by the Noida Authority. Initially, on May 10, the government had cancelled the allotment of plots in Noida's Sector 72 and Sector 94, citing violations during the e-tender process, which led to the sealing of the project sites by the Noida Authority. In an official communication to the Noida Authority, Principal Secretary Anil Kumar Sagar stated that a complaint received in February alleged violations by these companies of rules and conditions outlined in the Authority's e-brochure for the e-tender scheme. Specifically, commercial plot number 01 in Sector 94 allotted to M/s Lavish Buildmart Pvt Ltd, and commercial plot number MPC-01 in Sector 72 allotted to M/s Skyline Propcon Pvt Ltd were cancelled initially on May 10, 2024, Sagar mentioned. However, after receiving a request for reconsideration from Yatish Vahal, Authorised Signatory/Director, M3M group, on May 13, 2024, the government opted to review the matter. The decision to suspend the cancellation order, issued on May 10, 2024, came after thorough consideration of reports submitted by the Noida Authority and appeals from the companies. The Noida Authority has been directed to take necessary actions based on this decision, Sagar added in his letter. The M3M group welcomed the government's move, highlighting that the projects launched in Noida 18 months ago have seen substantial investment in land costs and construction, totaling Rs 15.01 billion. The group affirmed its commitment to Uttar Pradesh, emphasising job creation and economic opportunities, alongside its dedication to delivering landmark projects in the state. The total projected cost for both developments amounts to approximately Rs 55 billion, with 45% of the units already sold to 1,400 investors, according to the group's statement. (Source: ET Infra)

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Infrastructure Urban

19 Sep 2025

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Infrastructure Energy

19 Sep 2025

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..