Latest news with #Malappuram-based
New Indian Express
13 hours ago
- Politics
- New Indian Express
One injured as bridge under construction collapses in Kerala
KOZHIKODE: A portion of the under-construction Thorayikadavu bridge, which connects the Koyilandy and Balussery constituencies, collapsed on Thursday afternoon, injuring a worker. The incident occurred over the middle of the river when a newly installed beam tilted and gave way, causing the concrete structure to collapse along with it. The incident has sparked widespread concern and prompted immediate action from authorities. Local residents and political workers have alleged that substandard construction practices may have led to the collapse — an allegation that is now under official investigation. The injured worker was identified as being part of the construction crew and was taken to a nearby hospital for treatment. The Thorayikadavu bridge is designed to connect the Pookkad and Atholi riverbanks. The project, funded by KIIFB (Kerala Infrastructure Investment Fund Board) with a budget of approximately `23.82 crore, is being constructed by the Malappuram-based PMR Group. The bridge is planned to be 265 metres long and 12 metres wide. The construction work is overseen by the PWD Kerala Road Fund Unit. According to local resident Ajay Bose, several construction workers narrowly escaped serious injuries when the beam collapsed during concreting work. 'It's a miracle more people weren't hurt,' he said, highlighting the dangerous nature of the incident. Following the collapse, a higher official with PWD demanded an urgent report from the project director. He stated that further action would be taken once the report is received. Congress workers expressed outrage over the collapse, calling it a textbook example of negligence and corruption. They demanded a thorough probe and strict action against the construction company. 'This is not just a structural failure; it's a failure of responsibility,' said a local Congress leader, who preferred to remain anonymous. 'The public deserves to know why a project of this magnitude, funded by public money, was allowed to be compromised.' Residents said the bridge was seen as a vital infrastructure project that would improve connectivity and boost the local economy. They are demanding accountability from the construction firm, PMR Group, and have called for an urgent and transparent inquiry.
The Hindu
a day ago
- Business
- The Hindu
Bridge under construction collapses in Koyilandy
A bridge under construction with financial support from the Kerala Infrastructure Investment Fund Board (KIIFB) at Thorayi Kadavu near Koyilandy in Kozhikode collapsed on Thursday (August 14, 2025). Labourers present at the site had a narrow escape after a concrete beam in the middle section gave way in the afternoon. Residents who rushed to the spot staged a protest against the Malappuram-based contracting firm P.M.R. Constructions and demanded a comprehensive investigation into the incident. They alleged laxity on the part of Public Works department officials in checking the quality and quantity of materials used in the construction. Senior Revenue and Public Works department officials, along with local administrators, reached the spot for field-level inspections. They said an investigation was under way on the instructions of Public Works Minister P.A. Mohamed Riyas, and the report would be available soon. The government had sanctioned ₹23.82 crore for constructing the 265-metre-long bridge across the Akalappuzha at Thorayi Kadavu. Work on the multi-crore project began in August 2023. The bridge is expected to connect the Balussery and Koyilandy Assembly constituencies, offering a major advantage to residents. Villagers from Atholi and Chemanchery grama panchayats, who currently depend on boat services to cross the river, had been eagerly awaiting the speedy completion of the project.
Hindustan Times
12-07-2025
- Politics
- Hindustan Times
Special NIA court revokes attachment orders of 10 properties linked to PFI
Kochi, A special NIA court has revoked the order of attachment in connection with 10 properties that were linked with Popular Front of India which was banned by the Centre in 2022 for its alleged links with global terrorist organisations. Special NIA court revokes attachment orders of 10 properties linked to PFI Special NIA court judge P K Mohandas revoked, for varying reasons, the attachment order passed in 2022 by the Designated Authority under the Unlawful Activities Act in respect of all the properties. In the case of properties owned by Malappuram-based Green Valley Foundation Trust which has been a major focus of the NIA investigation and the Karunya Foundation in Kollam, the court said that materials on record prima facie show "proceeds of terrorism". It, however, revoked the attachment orders in respect of those properties, saying that "the Designated Authority has decided the matter without giving reasonable opportunity of being heard to the appellant and there is no proper compliance of the principles of natural justice". In the other eight cases, including properties of private persons or trusts, the court found that the owners were not accused in the cases registered by the NIA and the materials before it were not enough to find that the properties were 'proceeds of terrorism'. It also held that the order passed by the Designated Authority, in each of those cases, was done without following the principles of natural justice. "... the impugned order of the Designated Authority is passed without following the principles of natural justice and is liable to be set aside on that ground alone. Further, building under attachment is not 'proceeds of terrorism' and the same is not liable to be attached under the UA," the court said in each of the eight cases. The special court's 10 separate orders came on the pleas by the owners of the attached properties. The Designated Authority had passed the attachment orders under the UA by holding that the properties were 'proceeds of terrorism'. This article was generated from an automated news agency feed without modifications to text.
Economic Times
01-07-2025
- Business
- Economic Times
AJC Jewel IPO shares to list today. GMP suggests moderate premium on debut
Kerala-based AJC Jewel Manufacturers is set to debut on the BSE SME platform today after successfully completing its Rs 15.39 crore IPO. Market analysts suggest a grey market premium (GMP) of Rs 4 ahead of its listing, indicating mild positive sentiment around the stock in the unofficial market. ADVERTISEMENT The book-built issue was open from June 23 to June 26, and saw healthy interest across investor categories, with the allotment completed on June 27. The IPO was priced at Rs 95 per share. The IPO comprised a fresh issue of 16.20 lakh shares, with no offer-for-sale component. Post-issue, the total share capital stands at 59.84 lakh shares, translating to a market capitalization of around Rs 56.85 crore at the issue price. The issue was managed by Smart Horizon Capital Advisors, with Bigshare Services acting as the registrar, and Rikhav Securities serving as market in 2018, AJC Jewel Manufacturers is involved in crafting a wide variety of gold jewelry including bangles, rings, earrings, and necklaces for men, women, and Malappuram-based 21,780 sq ft facility is fully equipped with advanced machinery such as 3D printers and casting machines, enabling a fully integrated design-to-delivery manufacturing flow. ADVERTISEMENT The company plans to use the IPO proceeds to fund capital expenditure for new equipment (Rs 2.63 crore), repay or prepay existing borrowings (Rs 8.9 crore), and for general corporate the company posted Rs 246.84 crore in revenue for FY24 with a PAT of Rs 3.32 crore. ADVERTISEMENT While the GMP suggests modest listing gains, market watchers caution that actual performance on debut will depend on broader market sentiment and retail interest. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
01-07-2025
- Business
- Time of India
AJC Jewel IPO shares to list today. GMP suggests moderate premium on debut
Kerala-based AJC Jewel Manufacturers is set to debut on the BSE SME platform today after successfully completing its Rs 15.39 crore IPO. Market analysts suggest a grey market premium (GMP) of Rs 4 ahead of its listing, indicating mild positive sentiment around the stock in the unofficial market. The book-built issue was open from June 23 to June 26, and saw healthy interest across investor categories, with the allotment completed on June 27. The IPO was priced at Rs 95 per share. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Xu hướng nhà container: Giải pháp nhà ở hiện đại và bền vững Visionary Echo Undo The IPO comprised a fresh issue of 16.20 lakh shares, with no offer-for-sale component. Post-issue, the total share capital stands at 59.84 lakh shares, translating to a market capitalization of around Rs 56.85 crore at the issue price. The issue was managed by Smart Horizon Capital Advisors, with Bigshare Services acting as the registrar, and Rikhav Securities serving as market maker. Founded in 2018, AJC Jewel Manufacturers is involved in crafting a wide variety of gold jewelry including bangles, rings, earrings, and necklaces for men, women, and children. Live Events Its Malappuram-based 21,780 sq ft facility is fully equipped with advanced machinery such as 3D printers and casting machines, enabling a fully integrated design-to-delivery manufacturing flow. The company plans to use the IPO proceeds to fund capital expenditure for new equipment (Rs 2.63 crore), repay or prepay existing borrowings (Rs 8.9 crore), and for general corporate purposes. Financially, the company posted Rs 246.84 crore in revenue for FY24 with a PAT of Rs 3.32 crore. While the GMP suggests modest listing gains, market watchers caution that actual performance on debut will depend on broader market sentiment and retail interest. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
