The Supreme Court on Friday issued a notice to the Maharashtra government and Adani Properties in response to a petition filed by UAE-based Seclink Technologies. The company has challenged the state government’s decision to cancel its 2019 bid for the redevelopment of Dharavi slums and issue a fresh tender in 2022, which was awarded to Adani Properties.
A bench led by Chief Justice of India Sanjiv Khanna and Justice Sanjay Kumar took up the plea after Seclink stated that it would increase its offer of Rs 7,200 crore by 20 per cent, Bar and Bench reported. The Court directed Seclink to file an affidavit confirming this revised bid and scheduled the next hearing for May 25.
Seclink had previously approached the Bombay High Court, arguing that its bid was superior to Adani’s. However, in December 2024, the High Court dismissed Seclink’s plea, ruling that the Maharashtra government had the authority to select bidders and that the petition lacked merit.
During the Supreme Court proceedings, the Bench asked Seclink to provide an undertaking confirming that its revised bid of Rs 8,640 crore was significantly higher than Adani’s Rs 5,069 crore bid. However, the Court emphasised that Seclink must fulfill all financial obligations that Adani had agreed to, including a Rs 1,000 crore lease payment to the Railways, an indemnity payment of Rs 2,800 crore and the construction of 812 railway quarters.
Additionally, the Supreme Court instructed Adani Group to maintain a separate bank account for all project-related transactions, given that construction and demolition work had already begun. The Court mandated that all financial records, including invoices, comply with the Income Tax Act and relevant regulations. It further clarified that no special equity claims would be entertained and that the final decision on project allocation remains pending the outcome of the appeal.
In November 2022, Adani Properties secured the highest bid for the Dharavi redevelopment project, acquiring an 80 per cent stake in Dharavi Redevelopment Project Pvt Ltd, with the Maharashtra government retaining the remaining 20 per cent.
Spanning 600 acres, the project designates 296 acres for redevelopment while preserving open spaces like Mahim Nature Park. Dharavi, home to over 850,000 residents, surpasses one million when accounting for its transient population.
