Top court to review award to Adani Properties

THE PROJECT HOLDS IMMENSE SIGNIFICANCE AS IT AIMS TO TRANSFORM THE SLUM AREA INTO A MODERN URBAN SPACE

- Utkarsh Anand

NEW DELHI: The Supreme Court on Friday agreed to review the Maharashtra government's decision to award the Dharavi Redevelopment Project in Mumbai to Adani Properties Ltd, even as it directed Adani Properties to maintain an escrow account for all financial transactions related to the project.

Admitting a petition by SecLink Technologies Corporation (STC), the top court also made the award of the contract to Adani Realty subject to its final orders. A bench comprising Chief Justice of India Sanjiv Khanna and Justice Sanjay Kumar took note of an undertaking by STC, which had emerged as the highest bidder in the initial tender process before a second round was floated, ultimately awarding the contract to Adani Properties.

STC assured the court that it would meet all obligations undertaken by Adani Properties under the second tender and proposed a revised bid of ₹8,640 crore, aligning with all stipulated obligations.