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Indian Express
21 minutes ago
- Indian Express
Mohali MC plans mechanical cleaning of C-roads; Rs 25 crore development works on agenda
The Mohali Municipal Corporation is set to take a major step in city sanitation by introducing mechanical sweeping for C-roads (inner lanes). The proposal will be tabled in the MC meeting scheduled for August 22. Officials said the MC area, including villages, has a road length of 303.44 km, of which 101 km are C-roads. These will now be cleaned weekly by machines. The plan also includes lifting of dry leaves, with an estimated cost of Rs 4 crore over three years. The meeting will also consider development projects worth Rs 25 crore, including laying premix on main roads, installing iron grills, building new libraries, and upgrading community centres. Officials said these projects aim to strengthen Mohali's infrastructure and move the city towards a 'smart city' model. The agenda includes some table items regarding the boundary wall of the dumping collection centre near Sector 74, which has already faced protests from residents. Another proposal seeks to break the monopoly of private garbage collectors by hiring a professional company for door-to-door collection and segregation of waste. This, officials said, is the 'need of the hour'. However, the move has drawn sharp criticism from elected members. Deputy Mayor Kuljit Singh Bedi, former deputy mayor Manjit Singh Sethi, councillor Jasbir Singh Manku and Anuradha Anand, both Finance & Contract Committee members, announced their opposition. They said, 'The MC's experiment of mechanical sweeping on B-roads has already failed. When machines cannot clean B-roads, how can they work on narrow C-roads?' They added that in many villages falling under MC Mohali, C-roads are so congested that 'even a bicycle cannot pass'. The councillors also questioned the fate of existing MC employees who currently clean these 'C' roads. The August 22 meeting is expected to be crucial, with decisions impacting both sanitation and development across Mohali.
Indian Express
21 minutes ago
- Indian Express
Balganga dam project: HC upholds Tribunal order asking state authorities to pay Rs 303 cr to firm
In a setback to Maharashtra government and its authorities, the Bombay High Court earlier this month upheld the majority award passed by the arbitral tribunal in April 2019 that directed the authorities to pay Rs 303 crore to FA Enterprises, a private firm, towards unpaid bills for construction of Balganga dam. The HC through August 12 verdict restored the arbitral tribunal award related to the project of water supply to expanding areas of Navi Mumbai and for drinking and Industrial purposes. The copy of the order was made available on Wednesday. The HC observed 'findings of the Arbitral Tribunal are based on the materials on record and on a proper appreciation of evidence.' The two-judge bench noted that the majority award had held termination invalid as the firm had taken substantial steps to get forest land clearance. Therefore, there was 'no legal basis for the single-judge bench to have upset this finding.' Justice Karnik for the division bench recorded, 'We are satisfied that the view taken by the Arbitral Tribunal on the basis of the evidence on record is a plausible view. In such circumstances there was no scope for the Single Judge to have interfered with the award of the Arbitral Tribunal in the exercise of its jurisdiction under Section 34 of the of the Arbitration and Conciliation Act, 1996.' In a meeting held in January, 2009 under the chairmanship of the then state Water Resources Development (WRD) Minister, it was decided to construct a dam on Balganga river, near Niphad village in Pen taluka of Raigad district to meet the drinking water needs of Navi Mumbai's growing population and industries. The CIDCO was to bear the capital cost for Dam development and would get ownership right over the water and construction was to be executed by the WRD through KIDC. In May, 2009, the KIDC issued a work order to FA enterprises for nearly Rs. 495 crore and in June, 2011, project cost was revised to Rs. 1, 220 crore, which was disputed by CIDCO, compelling it to form expert committees to ascertain the same. 'Due to continuous pressure from banking institutions,' the FA Enterprises in 2013 approached the HC, after which an arbitral panel comprising representatives of the authorities and the firm was formed. The HC appointed its presiding member. Meanwhile, the Anti-Corruption Bureau (ACB) in August, 2015 filed a chargesheet against the firm and others for corruption and other irregularities. The next month, the private firm claimed an amount of Rs 536.56 crore, which the authorities opposed. In 2016, the KIDC terminated the contract of the private firm. Three out of five members of the tribunal in April, 2019 passed a majority award directing KIDC to pay to the private firm a sum of Rs 303 crore, prompting the authorities to challenge it before the High Court. The single-judge bench of the HC in May, 2020 set aside the majority award. Thereafter the aggrieved private firm moved the two-judge bench of HC with appeals against the May, 2020 judgement. Accepting submissions by senior advocate Aspi Chinoy for the firm, the HC on August 12 held that there was no 'patent illegality' in the award and the Tribunal's decision was a 'plausible view,' therefore the same required to be restored.
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Business Standard
21 minutes ago
- Business Standard
FinMin reviews Q1 performance of PSBs, urges higher lending to economy
The finance ministry on Wednesday held a meeting of heads of public sector banks (PSBs) to review their first-quarter financial performance. The three-hour-long meeting was chaired by Financial Services Secretary M Nagaraju. During the meeting, the secretary urged the MDs and CEOs of state-owned banks to increase lending towards the productive sector of the economy, according to sources. The review meeting with public sector banks assessed the performance of the first quarter of 2025-26. Led by State Bank of India (SBI), public sector banks, cumulatively, logged a record profit of ₹44,218 crore in the first quarter of the current fiscal, with an 11 per cent year-on-year growth. All 12 public sector banks together made a profit of ₹ 39,974 crore in the June quarter of FY25. The increase in profit in absolute terms was ₹4,244 crore. Market leader SBI alone contributed 43 per cent to the total earnings of ₹44,218 crore, as per the published numbers on stock exchanges. SBI logged a net profit of ₹19,160 crore in Q1 FY26, 12 per cent higher than the same period of the previous fiscal. In terms of size and profits, the biggest lender in the nation still controls the public banking market. In percentage terms, Chennai-based Indian Overseas Bank reported the highest net profit growth of 76 per cent to ₹1,111 crore, followed by Punjab & Sind Bank with a 48 per cent rise to ₹269 crore. During the quarter, all 12 public sector banks (PSBs) except Punjab National Bank (PNB) reported a decline in profit. PNB reported a 48 per cent fall in net profit to ₹1,675 crore against ₹3,252 crore in the year-ago period. Central Bank of India recorded 32.8 per cent growth in the June quarter net profit to ₹1,169 crore, Indian Bank posted 23.7 per cent rise to ₹2,973 crore, and Bank of Maharashtra logged 23.2 per cent improvement to ₹1,593 crore. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
