Adani Enterprises Ltd is likely to be chosen as the highest bidder to acquire Jaiprakash Associates Ltd (JAL) through the ongoing insolvency process, as its plan to make payments within two years has been found more suitable than Vedanta Ltd's five-year proposal. The Committee of Creditors (CoC) recently reviewed revised resolution plans from the five shortlisted bidders, with Adani's plan receiving the highest score. The CoC is expected to vote on the resolution plan in the coming weeks. JAL's total creditor claims stand at around INR 60,000 crore.Read more

The Ministry of Road Transport and Highways is revising India's three-decade-old toll-pricing framework to better reflect current highway conditions and vehicle usage. The existing model, based on vehicle operating costs, Vehicle Damage Factor (VDF), and users' willingness to pay, was last formalised in 2008 and is now outdated. NITI Aayog, with academic support, has been tasked with developing a modernised methodology by the end of the financial year. The new system aims to balance fairness for commuters with sustainable revenue for operators. India's 855 toll plazas collected INR 73,000 crore in 2024-25, and the updated framework is expected to guide future infrastructure planning and investment.Read more

The Ujjain Development Authority (UDA), along with the municipal corporation and district administration, demolished illegal constructions on three plots in Begambagh, each about 2,400 sq. ft., after leaseholders violated land-use terms. Originally allotted in 1985 for residential use under 30-year leases, the plots were later used for commercial purposes without renewal. Following the court's dismissal of a stay order, UDA reclaimed the land under CEO Sandeep Kumar Soni's supervision. Over 200 personnel ensured a peaceful operation. The UDA said it will continue monitoring other properties to prevent similar violations, reinforcing strict enforcement of lease and land-use regulations in Ujjain.Read more

The Competition Commission of India (CCI) has approved US-based Blackstone's proposal to acquire up to 80.15% of Aadhar Housing Finance Ltd (AHFL) through its subsidiary, BCP Asia II Holdco VII Pte Ltd. The deal, involving a secondary acquisition and an open offer to public shareholders, will strengthen Blackstone's presence in India's affordable housing finance sector. AHFL offers housing and property loans across the country and also distributes insurance products as a registered corporate agent with IRDAI. With this approval, Blackstone advances its strategy to expand investments in financial services, marking a significant step in India's evolving housing finance landscape.Read more

Mumbai's Economic Offences Wing (EOW) has booked real estate developer Subbaraman Anand Vilaynur, his wife Uma Subbaraman, and B P Gangar Constructions for allegedly duping homebuyers of nearly INR 100 crore. The case was filed following a complaint by a 62-year-old chartered accountant, Anil Dron, who claimed that 102 buyers were promised flats in the "Sky 31" project in Wadala (West) since 2018. Instead of using the collected funds for construction, the accused allegedly diverted them to personal and other accounts and even sold one flat to two different buyers.Read more

Security was tightened this week at railway stations across the Delhi-National Capital Region after a car explosion near the Red Fort metro area killed eight people and injured several others. The Railway Protection Force (RPF) and the Government Railway Police (GRP), working with the Northern Railway, reviewed and strengthened arrangements at major stations such as New Delhi, Old Delhi, Anand Vihar, Hazrat Nizamuddin and Ghaziabad. The measures include more personnel, dog squads, CCTV surveillance and ordered checks of suspicious individuals. Travellers were asked to stay calm and cooperate.Read more

The Delhi Development Authority (DDA) approved the capital's first Transit?Oriented Development (TOD) housing project 1,026 ready?to?launch two bedroom flats at Karkardooma under the "Towering Heights" scheme. Simultaneously, it cleared change of land use for 40.23 hectares under its land pooling policy. In the Narela sub-city, the authority sanctioned a multi-sports stadium on 30.35?hectares and an education?hub campus on 4.33 hectares. The enhanced FAR policy for commercial centres has been extended by one year and new developer charges for TOD zones have been fixed.Read more

The National Company Law Appellate Tribunal (NCLAT) has rejected Reliance Realty's appeal challenging the liquidation of Independent-TV, reiterating that the process must be completed in the shortest possible time. The tribunal confirmed the earlier order of the National Company Law Tribunal (NCLT), emphasizing that Reliance Realty cannot obstruct the liquidator's access to leased premises at Dhirubhai Ambani Knowledge City. Independent?TV, which had delayed rental and service payments after 2018, had entered insolvency, and the assets were sold to Shree Sai Baba Ship Breaking Company. The ruling ensures timely resolution of insolvency proceedings.Read more

The Navi Mumbai Municipal Corporation (NMMC) has initiated an extensive post-monsoon cleanliness and dust control drive across the city. Under the direction of Municipal Commissioner Dr Kailash Shinde, five advanced dust suppression vehicles are operating continuously in three shifts, spraying treated water and cleaning major roads and footpaths. The initiative, carried out under the National Clean Air Programme (NCAP), aims to reduce airborne dust particles and improve overall air quality in Navi Mumbai.Read more

The National Company Law Appellate Tribunal (NCLAT) directed Raheja Developers to halt any creation of third-party rights in its immovable properties, including sale of land or residential units, while its insolvency resolution process is under way. The tribunal emphasised that once insolvency has commenced, the management of the corporate debtor must not dispose of or deal with such assets without oversight. The interim resolution professional (IRP) has been authorised to appear before regulators such as the Real Estate Regulatory Authority and defend notices issued in respect of the company�s properties.Read more