
Maharashtra Politics: Fresh Rift Expected In Mahayuti? CM Fadnavis Orders Probe Into Tender Process Involving Shiv Sena Minister's Son
Danve said, "A company formed in 2024 was allowed to participate in the bid. The hotel bid was fixed at the 2018 rate, which was severely undervalued. The cartelisation of the companies led to acceptance of a tender of a company which did not have three years of ITR as required. Will there be action against the officials and the company which had won the tender?"
Revenue Minister Chandrashekhar Bawankule informed that the said tender process has now been cancelled. "We had previously issued six tenders since 2018, for which no company came forward. The hotel's value was fixed based on the special MPID court," he said.
The VITS hotel was the property of Dhanada Corporation Limited, listed on the Bombay Stock Exchange. In 2016 and 2017, the properties of the company were seized including the said hotel. In a bid to return the money of shareholders, its auction was held.
However, according to the minister, no company came forward for six tender processes held since 2018. Danve said that M/s Siddhant Material Procurement and Supply company won the tender at a small price of Rs 65 crore at a time when the current valuation of the hotel is around Rs 150 crore.
He mentioned that the owner of the company that bid for the hotel is Siddhant Shirsat, the son of a minister and the minister's election affidavit for year 2024 shows no property belonging to his son.
He was joined by Opposition MLCs Anil Parab, Bhai Jagtap and Shashikant Shinde seeking action from the government on officials as well as the company owner.
As Bawankule maintained that the tender process had been cancelled and the new process would take all the precautions, the Opposition pressed for action and resignation of Minister Shirsat.
Amid sloganeering, Minister Shirsat presented his side. "The entire process has run through court orders. Every tender has been issued after a court order and not by officials. Nobody came forward when the tender was issued six times," said Shirsat, adding that all the allegations were false and baseless.
As the sloganeering continued, Chief Minister Fadnavis said that the Revenue Minister has clarified that the process has been cancelled.
"It is important such cases should have transparency. Therefore, a high level enquiry will be conducted to probe as to whether any irregularity has taken place in the entire process," he added.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


India.com
a minute ago
- India.com
RICH Alliance: Trump's Tariff War Backfires? Russia Backs India And Hints At Emerging Ties With China
While U.S. President Donald Trump has reportedly stated that he will "substantially" increase tariffs on India, New Delhi has made it clear that it will not yield to pressure. Meanwhile, Russia has also pushed back against Washington's move. Former U.S. Secretary of State Henry Kissinger once famously said, 'Being America's enemy may be dangerous, but being its friend is fatal.' That sentiment seems to be playing out in real time as the relationship between India and the US may be emerging into a diplomatic turning point. In today's DNA episode, Managing Editor of Zee News, Rahul Sinha, analysed a possible alliance between India, Russia, and China: Watch Full DNA Episode Here: #DNAWithRahulSinha | वर्ल्ड ऑर्डर बदला.. यूएस का 'दबदबा' गया! 'मिशन RICH'..ट्रंप के लिए कितना घातक?#DNA #India #USA #DonaldTrump #TarrifWar@RahulSinhaTV — Zee News (@ZeeNews) August 5, 2025 In a strong statement, Russian Foreign Ministry spokesperson Maria Zakharova accused the U.S. of using tariffs as a tool to dominate other nations. She said countries that chose a different path from Washington were being economically pressured and that Russia supports a multipolar and equitable world order. This, she added, is why Russia stands with India—and even with China—against America's hegemonic approach. Zakharova further claimed the U.S. is reacting out of frustration as it struggles to accept its diminishing influence in the new world order. According to her, tariffs and sanctions will not stop the shift toward a new global structure. Zakharova also suggested, a new alliance could be on the brink after the US' tariffs announcement. This emerging alignment between Russia, India, and China could reshape the global balance of power. The question now being asked: Has Donald Trump's aggressive trade policy inadvertently triggered the rise of a powerful R-I-C-H bloc? What Is 'RICH'? A new alliance named 'RICH'—short for Russia, India, and China—could pose an even greater challenge to the United States than the BRICS. The acronym itself, symbolizing 'wealth and prosperity,' hints at a formidable coalition. While Russia has previously called for stronger India-Russia-China cooperation, current global tensions and Trump's policies may make this partnership more realistic than ever before. 'RICH' vs America GDP Power: America has a GDP of US Donald 28 trillion (Rs. 23 lakh crore), but the combined GDP of Russia, India, and China is close behind at Rs. 21 lakh crore. Population Power: Together, India, China, and Russia are home to nearly 3 billion people—about 37 percent of the world's population—far surpassing the U.S., which has just 330 million people or 4 percent of the global total. Military Strength: The combined military strength of the three nations is 4.8 million troops, compared to America's 1.3 million. Even when factoring in NATO allies, the numbers still tilt heavily toward the RICH bloc. Nuclear Arsenal: RICH nations possess approximately 6,300 nuclear weapons, compared to America's 5,200. Defense Capabilities, Self-Sufficiency While the U.S. remains the world's largest arms producer, Russia and China also rank among the top global arms manufacturers. India, too, is rapidly advancing toward self-reliance in defense production. Together, the three countries could pose a significant challenge to NATO on land, at sea, and in the air. However, experts caution that military confrontation between global powers could have catastrophic consequences, making economic and diplomatic battles more likely. Notably, these countries are also resource-rich and largely self-sufficient: Energy: Russia holds vast reserves of oil, gas, and coal and is a major exporter of fossil fuels. India is advancing in nuclear and solar energy, while China leads globally in the manufacture of solar panels and wind turbines. Natural Resources: Russia has significant reserves of titanium, nickel, cobalt, and uranium. China accounts for over 60 percent of global rare earth metal production. India, meanwhile, is rich in bauxite, iron ore, graphite, and manganese. Agriculture: India is the world's largest producer of milk and pulses. Russia leads in wheat exports, while China excels in agricultural machinery and food production. In short, if united, these three nations would have little need for external support in energy, food, or defense. Strategic Shifts and Diplomatic Openings While deep mistrust exists between India and China, recent developments suggest that the gap may be narrowing. India's National Security Advisor (NSA) Ajit Doval is set to visit China this month, followed by a trip by External Affairs Minister (EAM) S. Jaishankar. These diplomatic engagements, possibly accelerated by Trump's confrontational tactics, may help bridge long-standing divides.


Indian Express
a minute ago
- Indian Express
MD seizure from Mysuru: Accused used shirts' photos as code to communicate
The alleged mastermind of the mephedrone (MD) manufacturing racket, whose factory in Mysuru was raided by police, used pictures of shirts as code for communication between its members, Mumbai police said. The racket operated in two groups with one responsible for manufacturing the drugs in Mysuru, while the other one in Mumbai was involved in distribution of the contraband. In April this year, the Sakinaka police had arrested three people and seized over 4 kg MD and other raw materials worth Rs 8.04 crore from Vasai in Palghar. One of the key accused, Salim Imtiyaz Shaikh alias Salim Langda, who was on the run, was arrested on July 25. Shaikh had revealed that he had brought the drugs from Mysuru in Karnataka. Last week, the Sakinaka police raided the factory in Mysuru and seized Mephedrone worth Rs 381 crore and arrested four people. During questioning, Shaikh also revealed the details about the racket's functioning. 'The mastermind ensured that the members of the both groups did not know each other and maintained secrecy to reduce the risk and coordinated using pictures of the shirts,'' said a senior police officer, who is part of the probe. The police have not revealed the name of the mastermind as he is still at large. Police said that the supplier group from Mumbai and manufacturing group from Mysuru used to meet in Bengaluru. The member of one group would identify a person from the other group with the colour of the shirt they were wearing, a picture of which will be shared on their WhatsApp group, the officer said. 'Once their shirt's colour matched with the pictures shared to them, the manufacturer hands over the contraband to the supplier,' the senior police officer added. After collecting the contraband, they return to Mumbai by bus, police said, adding that the contraband was then distributed through peddlers in the city. Among the four arrested from Karnataka, one is from Mumbai, two are from Gujarat and one is from Mysore. During further probe, the police also found the gang members rented a godown in Powai where the syndicate stored the narcotics. Police also raided and seized 22 kilograms of MD from there. Godown owner booked The Sakinaka police registered a case against godown owner, Jitendra Rajendra Sharma, 56, for renting the place to the accused without a police verification. A team from Intelligence Bureau (IB) also visited the Sakinaka police station on Monday and interrogated the accused to find out if they have any links with the underworld, said an officer. Police also suspect that the factory could be connected with members of drug lord Salim Dola.


Time of India
a minute ago
- Time of India
BlueStone cuts IPO size to Rs 820 crore, to launch issue on August 11
Academy Empower your mind, elevate your skills Omnichannel jewellery retailer BlueStone Jewellery & Lifestyle has reduced the size of its initial public offering (IPO) as per a revised red herring prospectus filed by the company. The Bengaluru-based company is now looking to raise Rs 820 crore in primary capital against Rs 1,000 crore that it had originally to sources, the company is likely to go public at a valuation of around Rs 7,800 crore, which is less than its last private funding in August 2024, when it raised at a valuation of Rs 8,100 offer-for-sale (OFS) component has also been shrunk to 13.9 million shares, compared to 24 million shares earlier – with investors including venture capital firms Accel , Kalaari Capital, Iron Pillar Fund and Hero group's Sunil Kant Munjal planning to sell fewer shares than before. IvyCap Ventures, which was initially planning to sell 3.1 million shares, is not participating in the OFS which received the Securities and Exchange Board of India's approval in April, will launch its IPO on August 11, as per the reported in June that private wealth management firms 360 One and Centrum Wealth facilitated secondary deals amounting to Rs 300–350 crore in BlueStone. Axis Capital , IIFL Capital and Kotak Mahindra are bankers to BlueStone's reported a 40% increase in operating revenue for fiscal 2025 to Rs 1,770 crore. Its net loss, however, expanded to Rs 222 crore in FY25 from Rs 142 crore in the last few years, investors have turned bullish on the jewellery business. This trend picked up steam after the Tata Group's full acquisition of CaratLane at a valuation of Rs 17,000 crore. The conglomerate had first invested in the startup in 2016, when it was valued at Rs 563 jewellery startup Giva, which specialises in silver products, is also in talks to pick up Rs 450 crore ($53 million) in a financing round led by Creaegis in addition to participation by Premji Invest, Epiq Capital and others.