The Supreme Court on Friday upheld JSW Steel's Rs 19,700-crore resolution plan for debt-ridden Bhushan Power and Steel Limited (BPSL), bringing down curtains to a prolonged legal battle that spanned nearly eight years.
'If all of us (all the 57 Shiv Sena MLAs) stand together we can change the dynamic. We are not afraid of anyone.'
'The market today is different -- more mature and conducive. As a national player, you can't not be in Mumbai. And competition is always good.'
In a significant development, the Supreme Court on Thursday recalled its controversial May 2 verdict that had ordered liquidation of Bhushan Power & Steel Limited (BPSL) while setting aside a resolution plan of JSW Steel Limited for the ailing firm. A bench comprising Chief Justice B R Gavai and Justice Satish Chandra Sharma observed that the May 2 judgment, authored by Justice Bela M Trivedi, since retired, did not "correctly consider the legal position as has been laid down in the catena of judgments".
The ongoing survey for the Dharavi Redevelopment Project has surpassed the scope of the 2007-08 survey, with over 63,000 tenements already mapped. The survey, which includes ground floor and upper floor structures, aims to provide housing for all residents of Dharavi, including those in existing SRA buildings and on RLDA Land. The project, undertaken by Navbharat Mega Developers Private Limited (NMDPL), aims to construct nearly 1.5 lakh tenements to accommodate the growing population of Dharavi.
Former MLA Zeeshan Siddique has named several builders and politicians in his statement to police, alleging their involvement in the murder of his father and NCP leader Baba Siddique. Zeeshan claims that developers were in frequent contact with his father regarding redevelopment projects and that one builder used abusive language towards his father during a meeting. He also alleges a false case was registered against him for opposing a redevelopment project. This information is part of a 4,500-page chargesheet filed by police in connection with Baba Siddique's murder.
Last year, Saudi announced the opening of an alcohol shop in the Diplomatic Quarter of Riyadh to combat the black market and illegal imports. The store is only for non-Muslim diplomats, who must present diplomatic identification before they buy.
The International Olympic Committee should investigate India's wrestling federation and bolster its tools to report cases of sexual harassment, the Sport and Rights Alliance (SRA) said
Lenders of bankrupt airline Jet Airways, led by the State Bank of India (SBI), on Thursday told the Supreme Court that successful bidder Jalan Kalrock Consortium (JKC) was "unwilling" to pay the dues and that the "liquidation" was the only option left. The bench led by Chief Justice of India (CJI) DY Chandrachud was hearing the SBI-led consortium plea against the NCLAT's March order upholding ownership transfer of the bankrupt airline to JKC.
The multi-crore Dharavi slum redevelopment project involves no land transfer to the Adani group but to the Maharashtra government's departments, and the Ahmedabad-based conglomerate, as a project developer, will build houses that will be handed over to the same departments for allotment to residents of Asia's biggest slums, sources said. Denying allegations of land grab made by MP Varsha Gaikwad, sources close to the project said land parcels are to be transferred only to Dharavi Redevelopment Project/Slum Rehabilitation Authority (DRP/SRA) of the state government's housing department.
Insolvency appellate tribunal NCLAT on Tuesday upheld the resolution plan of grounded carrier Jet Airways and approved the transfer of its ownership to Jalan Kalrock Consortium. The NCLAT bench has directed the Jet Airways monitoring committee to complete the transfer of ownership within 90 days. Besides, it has also directed the lenders of Jet Airways to adjust the Rs 150 crore paid by the consortium as performance bank guarantee.
FIFA is set to confirm the hosts of the 2030 and 2034 men's World Cups on Wednesday, with a three-continent, six-nation bid led by Morocco, Spain and Portugal to be awarded the former and the latter going to Saudi Arabia.
Ace Aviation, which has been fighting Jet Airways for the acquisition of three Boeing B777 aircraft, said that it has acquired another aircraft for the conversion slot in early February 2025.
Seven people, including two minors, were killed and over 40 injured after a fire swept through a residential building in Mumbai's Goregaon area in the early hours of Friday, a civic official said. Five of the injured are in a critical condition.
Representatives of Citizen and Society Development Welfare, who have given the slogan of Dharavi Banao Andolan, met Srinivas and submitted a memorandum seeking expedition of the survey being conducted in Dharavi.
The Supreme Court on Thursday directed Jalan-Kalrock consortium, the new owners of the cash-strapped Jet Airways, to deposit Rs 150 crore in SBI's escrow account by January 31, saying failure to do so will mean that the consortium is not in compliance with the terms of the resolution plan for reviving the airline. The top court, meanwhile, also refused to allow the separate plea of the Jet Aircraft Maintenance Engineers Welfare Association seeking payment of provident fund and gratuity dues, observing if additional money is awarded, the resolution plan will become "unworkable". The consortium, as per the lawyers for the workmen, has to pay over Rs 200 crore towards dues on account of PF and gratuity.
This city is not for developers, and the Slum Rehabilitation Act (SRA) is intended to serve the purpose of public welfare and not the developers, the Bombay high court said, directing two developers to pay transit arrears of Rs 11 crore to a suburban SRA project.
Ustad Rashid Khan has left an enduring legacy with his soul-stirring notes, his melodious voice echoing through time and leaving an indelible imprint on the rich heritage of Hindustani music.
While the responses of the candidates were predictable, depending on which side they belonged to, an interesting point slipped through when Rahul Shewale cited the Dharavi Redevelopment Project as a scheme that would add to Mumbai's importance. No big infrastructural project in Mumbai, he said, could be successful without the Centre's nod.
'Gautam Adani will not be able to step inside Dharavi.' 'We will ensure Adani will not get what he wants.' 'Adani has no reason to do politics with people of Dharavi but he is still doing it.'
Dharavi resident advocate Sandip Katake alleged the project would be the world's biggest land scam.
Amid the crackdown on 'Waris Punjab De' chief Amritpal Singh and his aides, four accused were detained in Ludhiana on Wednesday, and were sent to jail, informed the police.
Shankar Prajapati, a 57-year-old potter in Dharavi, has given up hope of getting a bigger house for his family. He lives cheek by jowl in a hutment measuring 200 square (sq.) feet (ft) in the nondescript shanty town. "We have surrendered to our fate. We cannot wait forever for better accommodation. "Perhaps we are not meant to dream big," despairs Prajapati. Raju Korde, president, Dharavi Redevelopment Committee, and a local resident, agrees with Prajapati.
Electronics major Samsung has received orders for around 1.4 lakh units of its premium smartphone Galaxy S23 worth a total of Rs 1,400 crore on the first day of its pre-booking for the device, a senior company official has claimed. Samsung India, Senior Vice President for Mobile Business, Raju Pullan told PTI that the pre-booking for Samsung Galaxy S23 is almost twofold compared to the previous version of the smartphone Galaxy S22. "We have clocked almost 1.4 lakh units as pre-book in the first 24 hours and this is almost two times of Galaxy S22.
The International Olympic Committee (IOC) should review plans to go ahead with the Tokyo Olympics during the coronavirus pandemic and ensure dialogue with athletes, the Sport and Rights Alliance (SRA) and the World Players Association (WPA) said on Saturday.
US-based Oaktree on Monday pipped Piramal Enterprises and Adani Group to emerge as the highest bidder for DHFL after fresh bids were invited under the insolvency process, according to sources. The committee of creditors had fixed December 14 as the last for submission of revised bids. According to the sources, Oaktree raised the bid to Rs 36,646 crore, including Rs 1,000 crore for insurance and Rs 3,000 crore of interest earned, while Piramal Enterprises offered Rs 35,550 crore, including Rs 300 for insurance and Rs 3,000 of interest earned.
Special court judge M G Deshpande, who has granted bail to Shiv Sena MP Sanjay Raut, terming his arrest as "illegal, without reason and a witch-hunt", had pulled up the Enforcement Directorate (ED) on multiple occasions this year over its approach in dealing with money laundering cases.
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Quoting the FIR registered on the basis of a complaint, the Economic Offences Wing of Mumbai said accused Nailesh Mehta of Dev Developers in Andheri pretended himself as the partner of Zoomi Construction Company by preparing fake documents and acquired the latter's rightful TDR from the Slum Rehabilitation Authority.
This pertains to certain irregularities in loan disbursements towards the development of two Slum Rehabilitation Authority projects undertaken by the company in the past.
On Wednesday, Prithvi Shaw, captain of World Cup winning team was felicitated by Shiv Sena President Uddhav Thackeray, in Mumbai.
The Enforcement Directorate has arrested the chairman and the managing director (MD) of Mumbai-based Omkar Realtors and Developers in connection with a money laundering case against them linked to the alleged loan fraud in Yes Bank, official sources said on Wednesday.
Of the total, the financial creditors - banks, bond holders and other financial institutions - have claimed Rs 86,892 crore.
Hiranandani, K Raheja Builders, Gamon Infrastructure and Kalpataru are reported to have shown interest in the Rs 9,300-crore project, launched by the Slum Rehabilitation Authority (SRA) of the Maharashtra government.
The submission of EOI forms started on July 1 and was supposed to end on July 31.
The US track and field federation joined another leading US Olympic sport, USA Swimming, in seeking a delay to the Games. Neither US Olympic officials nor the IOC were immediately available for comment on USATF's request.
The girl was left with a fractured nose after a man allegedly hit her repeatedly for asking him and his friends not to argue among themselves loudly in Kurla-Nehru Nagar
More than two weeks after a wall collapsed in suburban Mumbai, killing 30 people and injuring more than 100, Rediff.com's Prasanna D Zore and Hitesh Harisinghani visit the area to know how the survivors devastated by the deluge are coping with their lives.
Nomura analysts said the Reserve Bank of India and the government would need to segregate the potential solvency issue at DHFL from liquidity issues at other larger wholesale NBFCs and HFCs.
The injured -- 130 -- cannot go back to work nor do they have homes to return to. Many of them refuse to leave the hospital while some of their relatives sleep in the hospital corridors. Apart from their physical injuries, the trauma of seeing their family members swept away haunts them as does the loss of all their possessions. But the BJP-Sena government remains indifferent to this human crisis.
Mumbai's 45 mohalla committees and the many voluntary groups working to bring communities together in the city can be counted upon to do their utmost to stop riots.
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