Source Credit: NDTV
On its part, the Supreme Court today dismissed Seclink Technologies Corporation's petition against the cessation of the Dharavi Redevelopment Project (DRP). Seclink contested the award made by the Government of Maharashtra to Adani Properties Limited for the redevelopment.
This award was granted after the cancellation of the original 2019 Seclink bid in favor of a fresh tendering process.
According to its ruling, the selected verdict contested by the Supreme Court was that of the Bombay High Court passed in December 2024 and in favor of the bid of the Adani Group. The Court has commented on the progress of the project, which included works such as the demolishing of railway quarters. Chief Justice of India Sanjiv Khanna stated that the decision to go ahead with the project was "valid, considering it is about development of the adjacent railway line."
The Supreme Court further gave directions that instead of stopping the project, all funds going in connection with the redevelopment should go into a single escrow account in order to guarantee transparency and accountability.
The court notices were served to the Maharashtra govt. as well as Adani Properties for the next hearing on May 25, 2025. While the Supreme Court heard testimony from Seclink Technologies, which had originally bid for the project at Rs 7,200 crore, it stated that Seclink was ready to revise its bid by 20%.
The bench instructed Seclink to produce an affidavit setting forth the amended bid in light of changed economic circumstances since the original tender process. The government justified its cancellation of Seclink's bid on the premises of changing economic conditions beset by COVID-19 impacts, fluctuations due to the Russia-Ukraine war, currency fluctuations, and increasing interest rates.
