Donald Trump tariffs (AI image)

The Donald Trump administration is planning to selectively raise global tariffs from 10% to 15%, while China will be spared from a raise for now. US Trade Representative Jamieson Greer said on Wednesday that tariff rates on imports from certain countries will increase to 15% or even higher from the recently introduced 10% level, though he did not identify the countries affected or offer additional specifics.In an interview with Fox Business Network’s “Mornings with Maria” programme, Greer said the Trump administration does not plan to raise tariffs on Chinese imports beyond their current levels, as President Donald Trump is expected to visit China in the coming weeks.Jamieson Greer told Fox Business that the Trump administration’s proposal to replace emergency tariffs invalidated by the Supreme Court with a new set of duties would remain consistent with current trade agreements. These measures include temporary tariffs imposed under Section 122 of the Trade Act of 1974, which came into force on Tuesday at a rate of 10%.

Trump tariffs: From 10% to 15% or Higher soon

“Right now, we have the 10% tariff. It’ll go up to 15(%) for some and then it may go higher for others, and I think it will be in line with the types of tariffs we’ve been seeing,” Greer said according to a Reuters report.Later, speaking on Bloomberg TV, Greer said the White House is preparing a proclamation to increase the temporary tariffs to 15% “where appropriate.” He added that the move would “accommodate” countries that have trade agreements in place, without elaborating further.Greer said the administration intends to follow the necessary legal procedures when implementing the tariff increases, noting that such measures often face legal challenges. “Any time we put on a tariff, we’re going to have foreign interests who want to bring it down. So people are going to sue us.”He said that investigations into unfair trade practices under Section 301 of the same law would form the core of the new approach. The probes would focus on countries accused of maintaining excess industrial capacity, relying on forced labour within supply chains, discriminating against US technology companies, or providing subsidies for products such as rice and seafood.Greer said he and Treasury Secretary Scott Bessent have repeatedly discussed the issue of surplus industrial capacity with Chinese officials, noting that some Chinese companies continue operating despite being unprofitable due to government support.“I don’t think they’re going to resolve that problem fully, and that’s part of why we need to have tariffs on China and Vietnam and other countries that have this problem,” he said.When asked whether the administration might impose significantly higher tariffs on Chinese imports that could disrupt the fragile trade truce, Greer said: “We don’t intend to escalate beyond” rates that are currently in place. “We intend to really stick to the deal that we have with them.”Greer told Fox Business that Section 338 of the Tariff Act of 1930, a law dating back nearly a century, remains valid and could be applied in situations where countries treat US trade less favourably than that of other nations. The provision permits the imposition of tariffs of as much as 50 percent on imports from targeted countries.

The stakes couldn’t be higher at the MA Chidambaram Stadium this Thursday. After a humbling 76-run defeat to South Africa, defending champions India find themselves in a “must-win” territory. With a bruised Net Run Rate (NRR) of -3.80, Suryakumar Yadav’s men aren’t just looking for a win; they need a statement performance to keep their semi-final hopes alive.

Zimbabwe, the tournament’s “giant-killers,” are in a similar boat. After a historic group-stage win over Australia, they were recently dismantled by the West Indies. Led by the evergreen Sikandar Raza, the Chevrons have proven they can punch well above their weight, and they’ll be eyeing an Indian top order that has looked uncharacteristically fragile in the Powerplay.

Key storylines ahead of crucial fixture

India’s opening pair of Ishan Kishan and Abhishek Sharma has struggled for rhythm. Expect potential tactical shifts, possibly moving Suryakumar up to No. 3 to break the sequence of left-handers as Tilak Varma is currently India’s No.3 batter. Also fans can expect the return of Sanju Samson in the playing XI.

Further, after being benched in the previous game, Axar Patel is expected to return to the XI to provide better balance and exploit the spin-friendly conditions. Zimbabwe’s pace trio of Blessing Muzarabani, Richard Ngarava, and Brad Evans will look to exploit any early-inning nerves in the Indian camp.

IND vs ZIM, T20 World Cup 2026: Match Details

• Date and Time: February 26; 7:00 pm IST / 1:30 am GMT / 7:00 pm local
• Venue: MA Chidambaram Stadium, Chennai

IND vs ZIM, Head-to-Head Record in T20Is

Matches played: 13 | India won: 10 | Zimbabwe won: 3 | No result/ Tie: 0

MA Chidambaram Stadium Pitch Report

Traditionally known as a “spinner’s paradise,” the Chepauk surface has offered a surprising twist during this World Cup. The tracks were relaid recently and have been kept fresh by the TNCA. Unlike the slow, low turners of old, the ball has been coming onto the bat much better. Recent matches at this venue have seen scores hovering around 180–200. In the last five games here, the average score is 188, suggesting that a par total is much higher than in previous years. Interestingly, pacers have slightly outperformed spinners recently (28 wickets to 21), thanks to the extra bounce available on the newer pitches. However, mystery spin remains a massive threat, making India’s Varun Chakaravarthy a key player on his IPL home ground. As a night game in a coastal city, humidity will be high. While dew hasn’t been a game-breaker in earlier matches, captain winning the toss might still prefer to bowl first to avoid a slippery ball in the second innings.

Also READ: T20 World Cup 2026: Ravi Shastri proposes tactical shake-up in India’s playing XI for Super 8 game against Zimbabwe

Squads

India: Abhishek Sharma, Ishan Kishan (wk), Tilak Varma, Suryakumar Yadav (c), Shivam Dube, Hardik Pandya, Rinku Singh, Washington Sundar, Arshdeep Singh, Jasprit Bumrah, Varun Chakaravarthy, Sanju Samson, Kuldeep Yadav, Axar Patel, Mohammed Siraj

Zimbabwe: Brian Bennett, Tadiwanashe Marumani (wk), Ryan Burl, Sikandar Raza (c), Dion Myers, Tony Munyonga, Tashinga Musekiwa, Wellington Masakadza, Brad Evans, Graeme Cremer, Blessing Muzarabani, Richard Ngarava, Ben Curran, Clive Madande, Tinotenda Maposa

IND vs ZIM, T20 World Cup 2026: Today’s Match Prediction

Case 1:

• India wins the toss and bowl first
• Zimbabwe’s Powerplay score: 40-50
• Zimbabwe’s total score: 150-160

Case 2:

• Zimbabwe wins the toss and bowls first
• India’s Powerplay score: 50-60
• India’s total score: 170-190

Match result: Team bowling first to win the contest.

Also READ: ICC T20I Rankings: Sikandar Raza claims No.1 all-rounder spot; Shivam Dube and Ishan Kishan move up

Pakistan’s captain Salman Ali Agha, right, with teammate Saim Ayub during a practice session. (PTI Photo)

NEW DELHI: New Zealand knocked co-hosts Sri Lanka out of the T20 World Cup with a comprehensive 61-run win in Colombo on Wednesday, but the result has also kept Pakistan in contention for a dramatic semi-final qualification. With England already through, the race for the final spot from Super Eights Group 2 will now be decided over the last two matches.Go Beyond The Boundary with our YouTube channel. SUBSCRIBE NOW!Chasing 169, Sri Lanka needed a convincing victory to stay alive but faltered badly, crawling to 107/8 and exiting the tournament with one game still to play. The heavy defeat ended their campaign and confirmed a fifth straight failure to reach the semi-finals since their 2014 title triumph. The win also significantly boosted New Zealand, whose net run rate jumped to a healthy +3.050, putting them in pole position to qualify alongside England.

However, Pakistan’s hopes hinge on the outcome of England versus New Zealand in Colombo on Friday. If New Zealand defeat England, they will finish on five points and qualify directly, rendering Pakistan’s final Super Eights clash against Sri Lanka irrelevant.Pakistan’s opportunity opens up only if England beat New Zealand. In that scenario, England will top the group with six points, leaving New Zealand on three and Pakistan with a chance to draw level if they beat Sri Lanka in their final match in Kandy.If Pakistan win and both teams finish on three points, qualification will be decided by net run rate. The current projections underline the scale of the task facing Pakistan.

T20 World Cup Super 8s Group 2 Points Table

For instance, if England beat New Zealand by 50 runs, Pakistan would need to defeat Sri Lanka by roughly 20 runs to edge ahead on net run rate, assuming a first-innings score of around 170.If Pakistan chase instead, the equation becomes tougher. They would need to complete the chase in approximately 17.5 overs to surpass New Zealand’s net run rate. Any slower victory could still leave them behind the Blackcaps.England’s dominance in the Super Eights has simplified the group standings, but Sri Lanka’s exit has ensured the final semi-finalist will be decided in a tense finish. Pakistan must now deliver not just a win, but a big one — and hope England do them a favour — to keep their World Cup dream alive.

Nomura initiated its coverage of Lloyd Metals with the target price at Rs 1,600. Analysts said that supported by low-cost iron ore assets to 2057, vertical integration into steel, predictable (MDO) earnings, and diversification into copper, LMEL is transitioning from a pure-play miner to a more stable, diversified and less cyclical business model. They estimate LMEL to generate consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) of Rs 10,900 crore by FY28F from Rs 1,900 crore in FY25, implying a compounded annual growth rate 77%. The risks include a delay in steel capacity, political unrest in the Democratic Republic of the Congo affecting copper business, BHQ beneficiation not yielding the same results as seen in the pilot project, and resurfacing of Naxal activities.BoFA Securities upgraded Vedanta to buy from neutral with the target price raised to Rs 840 from Rs 480. Analysts said they upgraded the stock given a bullish view on aluminium, supportive silver prices, and a healthy dividend yield. Moreover, significant deleveraging at the parent company level minimizes risk of an increase in brand-fee rates or inter-corporate loans. They raised FY26-28 expected EBITDA by 16-21% as they incorporated higher aluminium forecasts, higher fair value of HZ, depreciation of the rupee, and a reduced holding-co discount of 5% (vs 15% earlier).Jefferies has a buy recommendation on Adani Enterprises with the target price at Rs 2,750. Analysts said FY27 as a key ramp-up year for the company, led by scale up at airports (particularly Navi Mumbai Airport), copper (smelter utilization) and roads (Ganga Expressway). New industries will focus on solar manufacturing expansion. And the recent capital raise will strengthen the balance sheet. Analysts also said that the company’s data centre business is targeting 210 MW capacity over the next 18–20 months. And the company’s playbook remains to incubate new businesses to scale using operating leverage.CLSA has an outperform rating on TCS with the target price at Rs 3,593. Analysts said that TCS has partnered with ServiceNow to accelerate large-scale AI adoption for enterprises. ServiceNow has grown strongly, backed by a strong order book implying similar growth for system integrators around SaaS implementation having strong partnerships with these platforms. ServiceNow has partnered with foundation model companies like Anthropic and OpenAI which improves the customer experience on the platform. However, they said that TechM has the strongest ServiceNow capabilities across Indian and global peers.Elara Capital has upgraded Garden Reach Shipbuilders & Engineers (GRSE) to reduce from sell with the target price raised to Rs 2,300 from Rs 2,030. Analysts said the value of the next generation corvette (NGC) order from the Indian Navy has been raised 32% to Rs 33,000 crore and its order book is seen reaching lifetime high of Rs 50,000 crore by March 2026. Analysts see defence order pipeline at Rs 1.5 lakh crore and non-defence at Rs 1 lakh crore over the next 12–18 months. For the company, the revenues would commence in FY28 with the first ship delivery scheduled in FY31, followed by one ship every six months. The company has also announced a Rs 3,000 crore capex for greenfield expansion at Kandla and Bhavnagar. GRSE’s target price is based on 35x Dec 2027 core shipbuilding value plus cash value.

India are up against an opposition – Zimbabwe – that already silenced a home crowd in the group stages when they beat Sri Lanka in Colombo, and Thursday presents them another opportunity to replicate that success at the noisy Chepauk. Both teams find themselves in a must-win situation and Zimbabwe’s Ryan Burl didn’t venture into the “dangerous” territory of silencing India in India.

TimesofIndia.com in Chennai: has put India in a position where they can’t afford to slip up. Their net run rate (NRR) is the second worst in the Super Eight stage. To keep their last-four hopes alive, the Men in Blue need to win convincingly against Zimbabwe and the West Indies. Win is the keyword as anything less would keep the permutations alive but effectively end their campaign. Even a win requires an assist from South Africa, but this scenario should place them in better territory. Now, in the form of Zimbabwe, India are up against an opposition that has already silenced a home crowd in the group stages when they beat Sri Lanka in Colombo. Thursday presents them with another opportunity to replicate that success at the noisy Chepauk. Both teams find themselves in a must-win situation and Zimbabwe’s Ryan Burl didn’t venture into the “dangerous” territory of silencing India in India. The 31-year-old prefers to focus on his side’s process and sticking to what worked for them vs Sri Lanka, in Sri Lanka.

“It will be quite dangerous to answer how I am going to silence India in India. No, I mean obviously playing against Sri Lanka and Sri Lanka with home ground advantage is very difficult. But ultimately how we approach tomorrow’s game is going to be no different to how we’ve approached the games before in the sense that we have our processes, we’ve got our game plan, yes it does change here and there according to the conditions and your opponents but ultimately we want to play the game that we know how to play and we have found a lot of success doing it that way. So we would obviously want to focus on as much as what our strengths are but taking into account the challenges that the opposition does present,” said Burl.However, the pressure seems greater in the Indian camp as the runaway favourites find themselves in a position to keep their campaign alive. A side which dominated the bilateral circuit for close to two years finds itself in a delicate position with players running low on confidence. Even during Tuesday’s training at Chepauk, the batters, who were short on runs, took a little while to regain the dominating flow which helped them set the stage on fire in recent months. Some World Cup debutants are probably coming to terms with the pressure of the multi-nation tournament, compounded by the added pressure of it being at home.

Chennai: Zimbabwe’s Blessing Muzarabani during a training session ahead of the ICC Men’s T20 World Cup 2026 cricket match between India and Zimbabwe, at MA Chidambaram Stadium, in Chennai. (PTI Photo/R Senthilkumar)(PTI02_25_2026_000358A)

“World Cup in India, there will be pressure. I am a big believer that any international game you play, even I have played some ordinary district game, when you go to bat, you will feel pressure. If you do not feel that anxiety, it means you are not playing cricket. So that anxiety you learn to deal with it from the start of your career. And this is a big pressure game obviously when you are representing a country and a World Cup in India and a lot of expectation. “But I honestly believe that for a professional that is part of his life and we should deal with that in a positive manner. Just because we lost one game and we did not have good partnership and all, people talk more about it. But I honestly think they all are good enough to handle that pressure. If we want to win the World Cup, we have to handle that pressure. If we can’t, then it’s tough. And I don’t believe that there is anything this team cannot handle. So it’s just, I’m personally looking for that momentum. Once we start getting that momentum again, if we do it from tomorrow, I think they will be picking up at the right time. So I am looking at it that way,” said India batting coach Kotak.India are yet to play a perfect game in the tournament and the famed batting, billed as the real deal in the build-up, is yet to fire on all cylinders. Amongst the teams that qualified for the Super 8 stage, India’s collective batting is the worst at around 20 and they have recorded as many as 11 ducks so far, again the most. Not a number to be proud of but it isn’t something which the think tank is losing sleep over. According to Kotak, the team focuses on collective success or failure; individual setbacks do not weigh them down in the business end of the tournament.

Chennai: Zimbabwe’s captain Sikandar Raza during a training session ahead of the ICC Men’s T20 World Cup 2026 cricket match between India and Zimbabwe, at MA Chidambaram Stadium, in Chennai. (PTI )

In Zimbabwe, India again faces an opponent aware of its shortcomings and possessing enough variety in its attack to test the best. Blessing Muzarabani has been a real threat, already picking up 11 wickets in the tournament. However, the 6’9″ bowler isn’t the only weapon in their arsenal; they also boast effective spin and seam options. “We’ve obviously got a lot of options and that’s probably one of the advantages of the Zimbabwe lineup is we’ve got left arm seamer, right arm seamer, we’ve got couple leg spinners, we’ve got an off spinner, we’ve got a left arm offie. So we do have quite a lot of depth and I think it will probably just come down to what are the match-ups depending on the batters that are out there at the time and obviously the combinations that we do look to go for,” explained Burl.The lanky Blessing stood out during the nets; it was difficult to miss the intimidating frame. Against India, he will definitely bring something different to the table and Burl emphasised that he hasn’t received the credit he deserves for his performances in the tournament.

Chennai: Zimbabwe’s Tadiwanashe Marumani during a training session ahead of the ICC Men’s T20 World Cup 2026 cricket match between India and Zimbabwe, at MA Chidambaram Stadium, in Chennai. (PTI)

“I mean being 6 foot 9 does help. I have to give a lot more credit to Blessing than he has received, because he’s been out for about four to six months prior to this tournament. And he obviously had a lot of doubts coming in with his own body and how he was feeling and stuff like that. The success that he has had with the ball has been amazing. It’s not something that has only just come about now. “He has been doing this in international cricket previously. He’s obviously someone that we really do, we’re really happy having in our squad. He’s one of those bowlers that’s obviously 6’9″, and he does kind of come a little bit from beyond the perpendicular. So jagging the ball back into the righties and across the lefties with that steep bounce does propose quite a lot of a challenge for the batters. So I’m a lot happier knowing that he’s on my team and not on the opposition,” added Burl.In a few hours, India’s campaign will gain much more clarity, starting with the game between South Africa and West Indies. The result of that game will have a major bearing on India’s campaign as after the Ahmedabad blip, the control has slipped

Mark Carney and PM Narendra Modi (ANI image)

NEW DELHI: Canada on Wednesday clarified that it does not believe India is linked to violent crimes on its soil, signalling a diplomatic thaw with New Delhi ahead of Prime Minister Mark Carney’s visit to India. This marks a notable shift after months of strained ties between the two countries, as the Toronto Star reported.According to a report by The Toronto Star, a senior Canadian official stated during a background briefing that Ottawa is now confident such alleged activities are no longer continuing. “We have a very robust diplomatic engagement, including between national security advisers, and I think we can say we’re confident that that activity is not continuing,” the official said.Another official added that the visit itself reflects this assessment: “I really don’t think we’d be taking this trip if we thought these kinds of activities were continuing.”The Prime Minister’s Office later clarified that Canada would continue to address transnational repression, organised crime and criminal activity within its borders, while re-engaging with India through law enforcement and security channels.The Toronto Star further reported that the reassessment follows months of high-level security dialogue between the two countries. Officials indicated that communication channels between national security advisers and law enforcement agencies remain active and that engagement with India is being approached in a “step-by-step” and cautious manner.The news agency also highlighted that Carney’s government sees the visit as part of a broader effort to stabilise relations with key global partners, particularly in the Indo-Pacific region. However, some Sikh community leaders in Canada expressed concern over the renewed engagement, saying investigations into past allegations should continue transparently even as diplomatic ties improve.

Carney’s ‘pragmatic’ reset with India

This comes as Mark Carney is scheduled to visit Mumbai and New Delhi, marking his first trip to India as Prime Minister. He is scheduled to meet Prime Minister Narendra Modi, business leaders and officials to expand cooperation in trade, energy, technology, artificial intelligence and defence.Canada sees India as an important economic partner. In 2024, bilateral trade between the two countries reached $30.8 billion. Both sides have discussed reviving negotiations for a Comprehensive Economic Partnership Agreement (CEPA), which aims to double trade to $70 billion by 2030.The Toronto Star reported that Carney’s government views engagement with India as part of a broader effort to diversify Canada’s trade partnerships in a more uncertain global environment.However, the shift has drawn criticism from some Sikh activists. Moninder Singh, a religious leader in British Columbia, told the newspaper that he had received multiple police warnings about threats to his life since Nijjar’s killing. He described the renewed engagement as a betrayal.At the same time, Canadian officials said that security dialogue with India continues. Trade minister Maninder Sidhu said Canada can both protect communities at home and engage internationally on economic matters.

Diplomatic row after Nijjar killing

Relations between Canada and India deteriorated sharply after the killing of Hardeep Singh Nijjar, a Sikh separatist leader, in British Columbia in June 2023. Months later, then-prime minister Justin Trudeau told the Canadian Parliament there were “credible allegations” linking Indian government agents to the killing.India rejected the allegations as “absurd.” The dispute led to tit-for-tat expulsions of diplomats, suspension of visa services, and a freeze in trade talks.In October 2024, the Royal Canadian Mounted Police (RCMP) claimed it had evidence linking Indian government agents to violent criminal activity in Canada, including threats against Khalistan activists. Canadian officials later said they believed India’s home affairs minister Amit Shah was connected to the allegations. New Delhi strongly denied all such claims.India maintained that Canada was giving space to extremist and secessionist elements. After Trudeau’s exit, Ministry of External Affairs said that it was ready to rebuild ties based on “mutual trust and sensitivity.” MEA spokesperson Randhir Jaiswal stated that the downturn in relations was caused by the “license that was given to the extremist and secessionist elements” in Canada.

Top stocks to buy (AI image)

Top stock market recommendations: Tata Motors Passenger Vehicles, Colgate-Palmolive (India), and JSW Steel are the top stock picks that Aakash K Hindocha, Deputy Vice President – WM Research of Nuvama Professional Clients Group has listed. He also shares his outlook for Nifty, and Bank Nifty for February 26, 2026:Index View: NiftyNifty once again found support at its 200-DMA, after a pressured session on Tuesday. The index has retraced from trade deal announcement highs and tested the 200-DMA, where it is now forming a consolidation structure. Any rebound from current levels is likely to face resistance near the 25,700 zone. A decisive close above this level would be required to trigger fresh upside momentum. On the downside, yesterday’s low of 25,325 is expected to act as a strong near-term support.For the current weekly expiry, the index is likely to remain range-bound between 25,325 and 25,700 as markets move ahead in the final expiry month of the fiscal.Bank NiftyOn a week to date basis Bank Nifty continued to outperform the Nifty and has formed an inside bar formation in Wednesday’s session. For the past 5 sessions the index has closed above its previous day’s low reflecting underlying strength after three consecutive weekly closes at lifetime highs. On the short-term hourly chart, the index has signalled a minor breakdown. However, this can be negated if Bank Nifty sustains trade above 61,260 in today’s session. From here, a broader trading range is likely to develop, with 60,500 acting as support on the downside and 61,750 as resistance on the upside.

Stock recommendations:

Tata Motors Passenger Vehicles (BUY):

Stock has confirmed a constructive shift in structure after breaking above the falling trendline and flag formation on the daily chart, indicating a potential trend reversal. The breakout follows a phase of tight consolidation, suggesting healthy absorption rather than at lower levels with price now attempting to establish acceptance above the breakout zone continuing the trend.Colgate-Palmolive (India) (BUY):

Stock has been in a corrective phase since the beginning of September 2024. From November 2024 to mid-February 2026, the correction evolved into a well-defined channel. A bullish trendline breakout was recorded during last week’s trading in mid-February, followed by a continuation move on the upside. The stock has now registered its highest closing seen since November 2025, indicating improving momentum. While the 200-DMA near 2270 remains an immediate resistance, the broader chart structure and formation of higher lows suggest a higher probability of a breakout above this level likely to deliver an 8–10% upside from current levels, with targets around 2450 and higher. The setup remains valid as long as prices hold above the stop-loss zone near 2180.JSW Steel (BUY):

Steel stocks continue to benefit from supportive global cues and have been gradually trending higher across the board. JSW Steel has been a clear underperformer amongst its peers over the past three to four months and is now on the verge of recording its highest-ever weekly close on the charts. The prevailing momentum remains constructive and is likely to push prices further higher. The setup stays intact as long as the stock holds near last week’s low of 1225, which acts as a near-term stop loss. Given the consistent formation of higher highs over the past two months, an additional upside of 8–10% cannot be ruled out. (Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)

Mumbai: Bombay high court on Tuesday partly sustained and partly set aside an arbitral award passed in Aug 2023 in favour of Mumbai Metro One Pvt Ltd (MMOPL), which operates the Versova-Andheri-Ghatkopar Metro line 1, in an over Rs 1,000-crore dispute linked to construction, operation and maintenance.The arbitrators had said MMRDA should pay MMOPL over Rs 990 crore, including Rs 497 crore for cost escalation due to delay, with interest, as well as Rs 1 crore as costs. HC, on a challenge filed by MMRDA against the arbitrators’ decision, upheld MMOPL’s claims over the rise in cost due to delay but reduced the amount awarded for it to Rs 163 crore. It also found no merit in almost Rs 250 crore awarded by the panel to MMOPL and rejected its claims of Rs 100 crore as additional overhead expenses, Rs 125 crore as additional interest and financing expenditure, and Rs 23.5 crore towards loss of profit. HC held that the arbitrators “awarded a huge sum of Rs 100 crore (damages due to delay) to MMOPL in the absence of a scrap of evidence”. Justice Sandeep Marne, who decided MMRDA’s challenge to the arbitral award, accepted some of the state planning authority’s contentions against MMOPL. The dispute stemmed from a March 2007 agreement over Mumbai’s first Metro line. MMRDA was the project implementing agency for the project and MMOPL was the special purpose vehicle, in which MMRDA held a 26% stake. A consortium of Anil Ambani-led Reliance Infrastructure Ltd and Veolia Transport SA was also a stakeholder. In 2014, MMOPL claimed Rs 1,162 crore from MMRDA as cost escalation following litigation over certain land parcels; MMRDA objected. Both then got locked in a legal tussle. In 2024, MMRDA challenged a majority decision of a three-member arbitral panel. The arbitrators upheld a claim made by MMOPL in 2014 of an increase in the project cost from Rs 2,356 crore to Rs 4,026 crore due to a delay, and held MMRDA responsible for delay in execution of work by failing to secure “right of way”. Not only did HC reduce the delay escalation amount over increase in “cost of systems work”, with interest, it also slashed the costs payable by MMRDA from Rs 1 crore to Rs 50 lakh, even as it said it only upheld the award partially. The arbitrators were former Supreme Court judges—Shivraj V Patil, B P Jeevan Reddy and Gyansudha Misra. MMRDA also made huge counter-claims. The arbitrators rejected MMRDA’s counter-claims and by 2:1 majority, they partially allowed MMOPL’s claims. HC noted on Tuesday that the arbitrators, against a final difference of Rs 1,676 crore in project cost, awarded Rs 497 crore with interest to MMOPL and allowed only four of six claims. The costs also rose due to an increase in the cost of purchasing foreign exchange, it noted, finding “no perversity in the assessment of additional expenditure made by the tribunal”. “Can it be said that even if MMRDA is found responsible for delay in completion of project, MMOPL must bear the entire increase in the cost of project? The answer appears, to my mind, to be emphatic in the negative,” Justice Marne said. Justice Marne heard at length senior counsel J P Sen for MMRDA and senior counsel J J Bhatt for MMOPL. Sen argued that the award and the arbitrators’ findings against MMRDA were inconsistent, perverse and patently illegal. Bhatt said the four claims that were allowed were backed with cogent reasons by the arbitrators and MMRDA’s challenge and grounds raised were beyond the scope of Arbitration Act. MMOPL said the delay hiked the project cost from Rs 2,356 crore to Rs 4,026 crore. Last June, when MMRDA sought a stay, HC granted a conditional stay after asking the authority to deposit “the entire award amount with interest up to May 31, 2025” (Rs 1,169 crore). MMRDA, aggrieved, approached Supreme Court, which in July reduced the deposit amount to 50% (Rs 560 crore) and allowed HC to hear and decide the challenge. Justice Marne said after all calculations, “In the event the amount under the modified award is less than the amount deposited in the court together with accrued interest, after transfer of due amount to escrow account, balance amount shall be refunded to MMRDA”, and if it exceeds, the HC registry shall transfer the entire deposited amount to the escrow account.

FARIDABAD: A 15-year-old boy was killed and two of his friends were critically injured after their Thar SUV plunged nearly 50 feet into a gorge in Sirohi village of Faridabad on Tuesday afternoon while they were filming a stunt video in the Aravalli hills.The deceased, Vedang Babu alias Sohan (15), a Class 9 student originally from Siwan district in Bihar and currently living in Karnera village of Ballabhgarh, was declared dead at Al-Falah Medical College and hospital. The injured — Vikas Kumar (21), who was driving the vehicle, and Himmat — are stated to be in critical condition. A fourth companion, Vikram, sustained minor injuries.The accident occurred around 2.30pm when the four friends drove a Thar SUV off the main road onto a rough trail in the hills near Sirohi village, around 18–20 km from Faridabad headquarters. Police said the group had reached close to a 50–60 ft deep gorge and were making reels while performing stunts inside the vehicle.During this, the SUV suddenly went into reverse gear and rolled into the gorge, shattering on impact.Locals passing through the trail witnessed the vehicle fall and alerted police and villagers. Residents rushed to the spot, climbed down into the gorge and pulled out the injured youths before police arrived. The three seriously injured were taken to Al-Falah Medical College, where doctors declared Sohan dead.Police shifted the body to the mortuary of BK Hospital for post-mortem and informed the family. A cop at Dhauj police station said statements of the injured will be recorded to ascertain the exact sequence of events.A police officer said Vikas Kumar, a resident of Balaji Colony in Karnera village, was driving the Thar, which is registered in Deoria district of Uttar Pradesh. His family had brought the vehicle to Faridabad about a month ago. Vikas is self-employed, cops said.Sohan’s father, Pramod, works in a private company. The family hails from Bihar’s Siwan district and lives in Ballabhgarh.Police and local authorities remained at the site till late evening, using a crane to retrieve the mangled vehicle from the gorge.Sirohi village, nestled in the Aravalli hills along Ballabhgarh-Sohna Road, is known for its rocky terrain and lakes formed due to past mining activity. One such waterbody, Panikot Lake — also called Sirohi Lake — draws visitors from Delhi-NCR for photography and short trips, earning the area the nickname “Mini Ladakh.”

Navi Mumbai: Union home minister will attend a mass commemorative programme being organised this Sunday in Kharghar, Navi Mumbai, as part of a two-day event to mark the 350th martyrdom year of Guru Tegh Bahadur. PM Narendra Modi will join it virtually.CMs of Delhi, Haryana, Rajasthan, MP, UP and Gujarat, three governors, former TN BJP chief K Annamalai, yoga guru Ramdev, and spiritual leader Dhiren Shastri are expected to attend the two-day event, beginning Saturday. CM Devendra Fadnavis and deputy CMs Eknath Shinde and Sunetra Pawar will be present on both days. Over 20 lakh devotees from across the country are expected to turn up, said Vijay Suryavanshi, Konkan divisional commissioner. There will be spiritual discourses, jagrans and kirtans, presentations, community dialogue, an exhibition featuring historical records, books and other literature, and traditional sword-fighting demonstrations. Event coordinator Rameshwar Naik said members of Sikh, Sikligar, Banjara, Labana, Mohyal and Sindhi communities are expected to attend. Healthcare facilities will be available for visitors. The objective of the event is to convey to the younger generation the historical significance of Guru Tegh Bahadur’s martyrdom and its deep connection with constitutional values, religious freedom, equality and justice, said Naik. Navi Mumbai and Panvel civic bodies, along with the Konkan divisional commissionerate, are pulling out all the stops to make the event a success. Navi Mumbai Municipal Corporation is installing over 1,000 mobile toilets and making seating arrangements for thousands of devotees. As a prelude to the mega event, a nagar kirtan will be organised on Friday, which is expected to see about 50,000 participants from Belapur to Kharghar. —B B Nayak