Simplex Infrastructure News Today

Activists say that the BBMP needs to take action to stop debris dumping. “There is so much garbage dumped in the area. There is also a lot of dust flying around, inconveniencing motorists. When BBMP takes on a project, it should be completed; they chopped the trees, and there is no proper deadline even now. BBMP needs to fasten the work and fence the area.

Ejipura flyover: HC directs BBMP to register FIR against company : Rashtra News #Ejipura #flyover #directs #BBMP #register #FIR #company Court asks Govt. to permit cancellation of contract Court asks Govt. to permit cancellation of contract The High Court of Karnataka on Thursday directed the Bruhat Bengaluru Mahanagara Palike to complain to the police against

Originally meant to ease traffic congestion from Madiwala to Ejipura and bridge the two points enhancing connectivity, the project now seems only to be a half-done reality, causing more inconvenience due to the debris and construction material that has piled up over the years. The work, which began mid-March, is expected to be completed in 15 months, said a senior official in charge of infrastructure projects in the city

Lenders will now hold a Swiss challenge auction on March 6, and have invited counter offers with a markup of Rs 15 crore over the anchor offer. NARCL, set up by government to acquire bad loans, will have the first right to match any counter offer. Metenere, undergoing corporate insolvency, is into lead recycling and makes non-ferrous products such as tin and aluminium. Its insolvency process, started in September 2020, is mired in litigation and, thus, it is not resolved yet.

The ARC will use the funds to make cash payments to banks against the purchase of non-performing loans. NARCL offers 15% of consideration as cash payment, and balance 85% is paid in the form of security receipts paid on recovery of loans or at the end of five years or whichever is earlier.

The Delhi High Court bench comprising Justice Pratibha M Singh held that the time limit for limitation under Section 34(3) of the Arbitration and Conciliation Act, 1996 is absolute in nature and it...

NARCL is set to acquire loans of Simplex Infra following an uncontested Swiss auction. The state-backed bad bank has made a binding offer of ?640 crore for debt-laden engineering, procurement, and construction company Simplex Infrastructure, which is less than 7% in recovery to lenders. Simplex owes lenders, led by Punjab National Bank (PNB), a total of Rs 9,600 crore and is one of the largest accounts to be referred to bankruptcy courts in recent times. NARCL is preparing to acquire the loan in...

Supreme Court Will The Mandate Of The Tribunal Terminate Under Section 29A Unless Extended During Its Subsistence? Supreme Court To Examine The Supreme Court is set to examine an important...

In an appeal by Ministry of Environment, the Supreme Court has called for a report from the Central Pollution Control Board (CPCB) on the issue of pollution by Stone Crushing Units and as to whether...

On December 1, 2023, the Namma Bengaluru Foundation urged the Deputy Conservator of Forests Department to cease tree felling. Activists seek clarification from the Forest Department regarding the purposeful cutting of trees on footpaths and sidewalks, questioning the necessity to remove trees that don’t impede construction.