EOW issues notice to Bhopal smart city corp over land auction

05 Aug 2021 CW Team

Bhopal Smart City Development Corporation Limited (BSCDCL) received a notice from Madhya Pradesh economic offences wing (EOW) regarding details of the employed procedure to auction its commercial plots worth crores.

The CEO, an IAS officer, received the issue for information about this scheme. Along with the rules under which tenders floated for selling the land. According to a few media reports, some officers would be interviewed associated with the project after getting the replies.

The EOW started an inquiry into whether any norms floated in the plot sales based on the freehold for the Area Based Development scheme of BSCDCL. It is illegal that the tendering procedure on commercial plots was made complex to help select builders, and BSCDCL failed to start a competitive tendering mechanism. Despite that merely two bidders were participating in each of the tenders. It is illegal that the tendering procedure on commercial plots was made complex to help select builders.

It has caused outrage among many builders in the city. BSCDCL officers refused to accept that there was any misconduct in the process.

Under examination, tenders were invited for plot numbers: 79 (A), 80, and 83. The base prices were Rs 63.8 crore, Rs 70.7 crore, and Rs 73.9 crore.

Also read: Smart City Mission: Nine projects in Jaipur completed at Rs 142 cr

Infrastructure Urban

13 Jun 2025

Reliance, Diehl Advance Pact for Precision-Guided Munitions

Diehl Defence CEO Helmut Rauch and Reliance Group鈥檚 Founder Chairman Anil D. Ambani have held discussions to advance their ongoing strategic partnership focused on Guided and Terminally Guided Munitions (TGM), under a cooperation agreement originally signed in 2019.This collaboration underscores Diehl Defence鈥檚 long-term commitment to the Indian market and its support for the Indian Government鈥檚 Make in India initiative. The partnership鈥檚 current emphasis is on the urgent supply of the Vulcano 155mm Precision Guided Munition system to the Indian Armed Forces.Simultaneously, the 鈥淰ulc..

Infrastructure Urban

13 Jun 2025

Modis Navnirman to Migrate to Main Board, Merge Subsidiary

Modis Navnirman Limited has announced that its Board of Directors has approved a key strategic initiative involving migration from the BSE SME platform to the Main Board of both BSE and NSE, alongside a merger with its wholly owned subsidiary, Shree Modis Navnirman Private Limited.The move to the main boards marks a major milestone in the company鈥檚 growth trajectory, reflecting its consistent financial performance, robust corporate governance, and long-term commitment to value creation. This transition will grant the company access to a broader investor base, improve market participation, en..

Infrastructure Urban

13 Jun 2025

Global Capital Flows Remain Subdued, EMEA Leads in Q1 2025

The Bharat InvITs Association鈥檚 industry update for Q1 2025 shows subdued global capital flows, with investment volumes remaining at the lower end of the five-year range despite a late 2024 recovery. According to data from Colliers and MSCI Real Capital Analytics, activity in North America declined slightly, while EMEA maintained steady levels and emerged as the top region for investment in standing assets.The EMEA region now hosts seven of the top ten cross-border capital destinations for standing assets, pushing the United States鈥� share of global activity below 15 per cent. Meanwhile, in..