KIADB Orders Resumption Of Bengaluru Land Held By Embassy Subsidiary

26 Mar 2026 CW Team

The Karnataka Industrial Areas Development Board (KIADB) has ordered resumption of a land parcel of about 78 acres in Bengaluru held by Embassy East Business Park Ltd (EEBPL), a subsidiary of Embassy Developments Ltd. KIADB issued an order dated March 16, 2026, directing surrender of possession within 30 days, and the subsidiary received the order on March 17, 2026. The land is held under a Lease-cum-Sale Agreement executed in June 2007 and valid until June 2029.

KIADB invoked Section 34B of the Karnataka Industrial Areas Development Act, 1966, and cited alleged breaches related to transactions with third parties without prior approval. KIADB said the alleged breaches concerned execution of memoranda of understanding and agreement-to-sell arrangements without prior consent.

Embassy Developments and its subsidiary have denied the allegations and stated that sub-lease arrangements were carried out after obtaining no-objection certificates from KIADB in compliance with the agreement. The company maintained that agreements to sell do not create or transfer any interest in property and were executed subject to necessary approvals including execution of a sale deed by KIADB.

The subsidiary raised concerns about breach of principles of natural justice, asserting that its prior communications and submissions were not taken into account before the order. Embassy Developments said it would evaluate the order and consider appropriate legal remedies, including approaching the Karnataka High Court, while also assessing the financial and operational impact.

The development assumes significance as the group has recently secured status quo relief against coercive steps in two separate ECIRs registered by the Enforcement Directorate, highlighting an ongoing regulatory and enforcement overhang. The company indicated that it will pursue legal options to protect its interests while monitoring implications for project timelines and stakeholders.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..