Fiscal Consolidation to Enhance India's Credit Profile, Say Agencies

BluSmart Faces Insolvency Amid Financial and Governance Troubles

The NCLT appointed NPV Insolvency Professionals as the interim resolution professional (IRP) to take charge of BluSmart’s operations and assets while continuing business as a going concern. The tribunal also ordered full cooperation from the company’s promoters and management until a resolution plan is formulated.Founded by the Jaggi brothers, who also promoted Gensol Engineering, BluSmart’s situation parallels that of Gensol, which the same NCLT bench had admitted into insolvency proceedings earlier in June. Gensol’s fleet of 4,000 vehicles was recently leased across Delhi-NCR and Ben..

DMRC Achieves Tunnel Breakthrough on Golden Line Corridor

Part of the 23.6-km Golden Line, the tunnel breakthrough marks progress on one of the corridor’s 19.3 km of underground sections, which will connect 15 metro stations upon completion.The 91-metre-long TBM completed a 792-metre tunnel stretch designed for up and down train movement. The work is being executed by civil contractor Afcons Infrastructure.Constructed at an average depth of 18 metres, the tunnel features 559 precast concrete rings, each with an internal diameter of 5.8 metres. These segments were manufactured at a mechanised casting yard in Mundka and steam-cured for accelerated st..

MMRDA Deposits Rs 5.60 Bn in Metro Arbitration Case

Following a Supreme Court directive, MMRDA deposited 50 per cent of the Rs 11.69 billion arbitration award in a case related to project cost disputes with MMOPL, which operates Mumbai’s first metro line. The Bombay High Court had earlier asked MMRDA to pay the full award by 15 July 2025.The arbitration award—amounting to Rs 9.92 billion—was granted in August 2023 by a three-member tribunal. MMRDA had contested the order under Section 34 of the Arbitration and Conciliation Act, but the Bombay High Court upheld the award in MMOPL’s favour.The cost of the 12-km Versova–Andheri–Ghatkop..