The Supreme Court has decided not to halt the ongoing construction of the Dharavi Redevelopment Project, maintaining the Bombay High Court's decision in favor of Adani Group.
Seclink Technologies Corporation, a UAE-based company, had appealed against the Maharashtra government's decision to award the project to Adani Properties Limited after revoking Seclink's earlier bid.
During the hearing, the court acknowledged that work, including the demolition of railway quarters, had already commenced.
Chief Justice of India Sanjiv Khanna, along with Justice PV Sanjay Kumar, noted that the Bombay High Court's ruling was reasonable, especially considering that the project would also include development of the railway line.
The Supreme Court also instructed that all project-related payments be processed through a single escrow account.
Notices have been issued to the Maharashtra government and Adani Properties, with the next hearing scheduled for May 25.
Seclink Technologies, which had initially proposed a Rs 7,200 crore bid for the redevelopment, informed the Supreme Court of its willingness to increase the offer by 20 percent. The court has asked Seclink to submit an affidavit with the revised bid details.
Back in December 2024, the Bombay High Court supported the Maharashtra government's choice to annul Seclink's 2019 bid and issue a new tender in 2022, ultimately awarding the project to Adani Group. Seclink's appeal to the Supreme Court followed this decision.
The government defended its action, pointing to significant changes in economic conditions from 2019 to 2022, including the impacts of the COVID-19 pandemic, the Russia-Ukraine conflict, currency fluctuations, and rising interest rates as reasons for the decision.