Bombay HC Cancels CIDCO’s Rs 34.77 Billion Contract Awards

08 May 2025 CW Team

In a major ruling, the Bombay High Court has annulled City and Industrial Development Corporation’s (CIDCO) decision to disqualify the Thakur-EVRASCON Joint Venture from bidding on two infrastructure contracts worth Rs 34.77 billion in the Navi Mumbai Airport Influence Notified Area (NAINA). The bench also set aside the contract awarded to the PNC-Aakshya JV worth Rs 19.09 billion and CIDCO’s approval of the financial bid by Ashoka-Aakshya JV for a Rs 15.69 billion project.

Thakur-EVRASCON, a joint venture between Thakur Infraprojects and Azerbaijan-based EVRASCON, challenged the disqualification, alleging unfair treatment. The court found that while CIDCO acted on objections raised against Thakur-EVRASCON, it ignored similar complaints about rival bidders, calling the evaluation process neither fair nor transparent.

CIDCO argued that Thakur-EVRASCON failed to meet several eligibility criteria, including validation of foreign work experience. However, the court ruled that CIDCO had not considered all objections consistently and instructed the authority to re-evaluate financial bids from all eligible bidders before awarding the contracts.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..