India Supreme Court sides with developers
Publish date: 15 March 2006
Issue Number: 1540
Diary: Legalbrief Today
Category: Property
Property developers in India are rubbing their hands after the Supreme Court gave the go-ahead for defunct textile mill-lands in the heart of Mumbai, Indias financial capital, to be developed into towers for the new rich.
The development, reports the Financial Times, had been opposed by environmentalists. The ruling means that the development, that was halted last April when environmental groups scored a legal victory in a Mumbai court, can resume. The reversal of that judgment also sent sky-high the valuations of companies. Full Financial Times report
