The Bombay High Court (HC) on January 15 ordered setting up of a three-member panel to evaluate and sells assets of the embattled Housing Development and Infrastructure (HDIL). The fund thus accumulated would be used to pay off the debt the builder owes crisis-hit PMC Bank.
As reported, the Supreme Court has given its approval for Mumbai’s Rs 140 billion coastal road project – which was put on the map to decongest traffic and provide ease of access between the northern and southern parts of the city.
The Bombay High Court recently cancelled the coastal regulation zone (CRZ) clearances granted to the ambitious Rs 140-billion Mumbai Coastal Road Project, reasoning that there was serious lacuna in the decision-making process and lack of proper scientific study. The decision is likely to impact the order book of large construction players such as Larsen & Toubro (L&T) and HCC, who are involved in the construction of the project.
Redevelopment of housing societies in the suburbs of Mumbai have bit hard hit following the Bombay High Court’s (HC) order banning all new constructions in Mumbai from March 1, 2016. Reportedly, according to BMC’s (Brihanmumbai Municipal Corporation) development plan (DP) department, new redevelopment proposals between May and December 2016 have dropped by 50 per cent compared to previous years.
Shiv Sena, the opposition party in the Nashik Municipal Corporation (NMC), has moved the Bombay high court on October 28 against the decision of the NMC's decision to invite tenders for various road works worth Rs 330 crore through deferred payment.
In Mumbai's Shivaji Park area the Bombay High Court has allowed redevelopment of properties even the structures exists within the proposed heritage precinct. The court order is a major interim relief for residents of buildings in the area who have obtained commencement certificates from the Brihammumbai Municipal Corporation (BMC) for the redevelopment of their properties before July 31, 2012.
Recommending to improve roads in Pune city, the Pune Municipal Corporation (PMC) has prepared a policy note and submitted the same report to the Bombay High Court. The High Court had asked the PMC to submit the report, following a public interest litigation (PIL) on the poor condition of roads in Pune.