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 National High Speed Rail Corporation (NHRCL) has set the ball rolling on fast-tracking the pre-construction work of the Mumbai-Ahmedabad Bullet train that stretches across 508 km. The High-Speed-Rail (HSR) line is estimated to cost Rs 1.08 trillion and will be expected to become functional by 2023 following the boost in construction.
The Kolkata Metro Railway Corporation (KMRC) notified the Calcutta High Court that the construction it had undertaken on the East-West Metro corridor had been stopped due to the incident that took place where numerous houses in the central parts of the city were damaged during tunnel-boring work.
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.