Supreme Court orders Sahara to deposit Rs 1,000 cr
ECONOMY & POLICY

Supreme Court orders Sahara to deposit Rs 1,000 cr

The Supreme Court has directed the Sahara Group to deposit Rs 1,000 crore as part of its ongoing financial obligations. This order is a significant development in the long-standing legal proceedings involving the group. Additionally, the court has granted approval for a joint venture (JV) to proceed with the development of a prominent piece of land in Mumbai owned by Sahara.

The JV will focus on transforming the site into a major real estate project, which is expected to boost the local economy and create numerous job opportunities. The ruling underscores the court?s commitment to ensuring compliance with financial directives and facilitating progress in major development projects.

The Supreme Court has directed the Sahara Group to deposit Rs 1,000 crore as part of its ongoing financial obligations. This order is a significant development in the long-standing legal proceedings involving the group. Additionally, the court has granted approval for a joint venture (JV) to proceed with the development of a prominent piece of land in Mumbai owned by Sahara. The JV will focus on transforming the site into a major real estate project, which is expected to boost the local economy and create numerous job opportunities. The ruling underscores the court?s commitment to ensuring compliance with financial directives and facilitating progress in major development projects.

Next Story
Infrastructure Transport

BMC Gets CRZ Nod For Rs 40 Million Gorai Bridge Rebuild

The Brihanmumbai Municipal Corporation (BMC) has secured Coastal Regulation Zone (CRZ) clearance for the reconstruction of the Poisar River bridge in Gorai, located in Mumbai’s western suburbs. However, the proposed demolition of the existing 100-metre bridge has sparked opposition from local residents, who claim it serves as the only direct access route between the Lower and Upper Koliwada areas. The three-decade-old bridge, situated within the CRZ buffer zone, was recently declared structurally unsafe following a civic audit. The BMC has sanctioned its reconstruction at an estimated cost ..

Next Story
Infrastructure Transport

NHAI Completes Rs 15.9 Billion Four-Lane Stretch On ECR

The National Highways Authority of India (NHAI) has completed the four-laning of the 38 km Puducherry–Poondiyankuppam stretch, ending near Cuddalore, in a development that will cut travel time by up to two hours, according to a report by The New Indian Express. The upgraded section, built at a cost of Rs 15.9 billion under the Bharatmala Pariyojana Phase I, marks a major milestone in the ongoing East Coast Road (ECR) widening programme. The project promises a smoother, faster drive for motorists travelling towards Cuddalore, Chidambaram, Sirkazhi, and Nagapattinam. With this completion, 22..

Next Story
Infrastructure Transport

Encroachments Delay Rs 1 Billion Ghatkopar Bridge Project

The construction of a new cable-stayed rail overbridge at Ghatkopar and the widening of the Andheri–Ghatkopar Link Road (AGLR) have been delayed due to the presence of nearly 250 encroached structures on both sides of the road. In response, Municipal Commissioner Bhushan Gagrani has directed officials to carry out a structural audit of the existing bridge over the railway line and enforce temporary restrictions on heavy vehicles to ensure public safety. The bridge, which starts at the Golibar Road junction near LBS Marg and extends up to the Eastern Express Highway (EEH), serves as a critic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?