New Delhi: The Supreme Court on Friday refused to grant an interim stay on the Dharavi Slum Rehabilitation project, which is being carried out by the Adani Group. Dubai-based Seclink Technology Corporation has moved court to seek an interim stay, challenging the awarding of the project to the Adani Group. The petition was heard by a bench led by Chief Justice Sanjiv Khanna. The court had issued notices to the Maharashtra government and the Adani Group.
But the top court refused to halt the ongoing work at the project site. Senior advocate Mukul Rohatgi, who is representing the Adani Group in the court, said construction had already started and the group had employed over 2,000 workers, invested significant funds, procured construction equipment worth crores of rupees. The group had also initiated the demolition of railway quarters at the site.
The court directed the Adani Group to channel all project-related payments through a single escrow account and ensure proper documentation. The court ordered that any financial transactions related to the project must be routed through this designated account.
What was Seclink’s bid?
Senior advocate C. Aryama Sundaram, representing Seclink, argued that the company was willing to increase its bid by 20%. The company had apparently proposed a revised bid of ₹8,640 crore, higher than Adani’s base bid of ₹5,069 crore.
He highlighted that Seclink’s ₹8,640 crore bid excluded an upfront payment of ₹1,000 crore to the Indian Railways and an indemnity amount of ₹2,800 crore, reported the Mint.
The apex court directed Seclink to submit an official undertaking confirming its latest financial offer.
The case will be heard next in May. At the next hearing, the court is likely to examine the latest bid offer proposed by Seclink. According to Seclink, which lost the bid in 2022, its initial ₹7,200 crore bid was higher and more deserving than Adani’s ₹5,069 crore offer. The company alleged that the Maharashtra government unfairly scrapped the original tender process and issued a fresh one.
