- By Priyanka Koul
- Fri, 07 Mar 2025 01:55 PM (IST)
- Source:JND
The Supreme Court of India has issued a notice to the Maharashtra government and Adani Properties regarding the Dharavi Redevelopment Project (DRP). However, the court declined to halt the ongoing construction, upholding the Bombay High Court's decision that favoured the Adani Group.
The case was brought forward by UAE-based Seclink Technologies, which contested the Maharashtra government’s move to cancel its 2019 bid for Dharavi’s redevelopment and later awarding the project to Adani through a fresh tender in 2022.
During the hearing, a bench led by Chief Justice of India Sanjiv Khanna and Justice Sanjay Kumar considered Seclink’s plea after the company expressed willingness to increase its Rs 7,200 crore bid by 20 per cent.
The Supreme Court noted that redevelopment work had already commenced, including the demolition of some railway quarters. Despite Seclink’s objections, the Maharashtra government defended its decision to reassign the project to Adani Properties.
In a key directive, the Supreme Court ordered that all financial transactions related to the project should be processed through a single escrow account. Chief Justice Sanjiv Khanna remarked that the Bombay High Court’s ruling was justified, as the redevelopment plan also included railway infrastructure improvements.
The court then instructed Seclink to file a detailed affidavit and scheduled the next hearing for May 25.
Seclink argued that it was prepared to offer a higher bid than the one accepted. The Supreme Court recorded this statement, noting that the petitioner must match all terms agreed upon by the highest bidder, including payments of Rs 1,000 crore for the lease and Rs 2,800 crore as an indemnity amount. The company was directed to submit a fresh affidavit outlining its commitment.
"Now a statement is made that they shall shell out a higher amount than the biggest bidder. All other conditions that the highest bidder has agreed to, including Rs 1,000 crore towards lease and Rs 2,800 crore towards the indemnity amount, shall also be fulfilled by the petitioner. Let a fresh affidavit be filed," the court recorded in its order, as per Bar and Bench.
The dispute dates back to December 2024, when the Bombay High Court upheld the Maharashtra government’s decision to cancel Seclink’s earlier bid and initiate a new tender process in 2022, eventually awarding the project to the Adani Group. Seclink subsequently challenged this ruling in the Supreme Court.
The Maharashtra government defended its decision by citing significant economic shifts between 2019 and 2022, including the impact of the COVID-19 pandemic, the Russia-Ukraine war, currency fluctuations, and rising interest rates.
With the Supreme Court maintaining the status quo, the case remains under judicial review, with further developments expected in the next hearing on May 25.