Mumbai: BMC has got only one bid for the around Rs 980-crore tender floated last Oct for turnkey development of common infrastructure facilities at the Deonar abattoir complex as part of modernisation plans even after several deadline extensions. It also received only two proposals for four separate requests for proposal (RFPs), worth over Rs 250 crore, for construction and operation of species-specific abattoirs under a public-private partnership (PPP) model.Civic officials said the tender scrutiny committee will examine whether to go ahead with the single bid and also take a decision on the RFPs. “Of the two proposals, one is for the buffalo unit and the other for sheep/goats. We are examining the parameters of the technical bid for turnkey development and the company will be asked to make a presentation on how it would implement the project. Thereafter, the scrutiny committee will take a decision on opening the financial packet. As per the rules, we have given more than three extensions. So, we can go ahead with the project even if there is just a single bidder,” said a senior official. The project aims to transform the existing semi-mechanised setup into a state-of-the-art, hygienic facility to match global standards. It will introduce humane practices, like automated electrical stunners, group stunning pens using captive bolt or electrical methods, and carbon dioxide stunning technology, which induces unconsciousness without physical restraint. Under turnkey development, one contractor handles all stages—from design to final handover. This work includes building buffalo, goat and sheep lairage, administrative building, skill development centre, bio-methanisation and effluent treatment plant. The RFPs are targeted at development of ancillary facilities, such as dedicated units for slaughtering buffalo, goat/sheep, pig and poultry, along with rendering, with total slaughtering capacities ranging from 1,100 buffaloes to 10,000 goats/sheep, 500 pigs and 40,000 poultry birds per day. The PPP partner will build the facilities and provide slaughter and quartering services at rates fixed by BMC. It will bear the entire capital expenditure and a percentage of the total revenue will have to be shared with the civic body.

Mumbai: The Bombay high court recently quashed a debt recovery tribunal (DRT) order that stayed all further post-sale process of a bank’s auction of a south Mumbai flat.The HC said it observed a “disturbing trend”, “in many matters” borrowers and “chronic defaulters” “act as fence sitters” and take no action when banks proceed with recovery. These defaulters instead invoke “collusive proceedings” under insolvency law only when auction purchasers are to be handed physical possession of the flat.In a March 18 order, the bench of Justices Manish Pitale and Shreeram Shirsat expressed distress at the misuse of Insolvency and Bankruptcy Code (IBC). It said borrowers claim that moratorium stands triggered the moment such proceedings are filed before the National Company Law Tribunal (NCLT). “As a consequence, all steps taken under the provisions of the Securitisation Act suddenly come to a standstill” and defaulting borrowers “wear a cloak of immunity under the garb of a moratorium”, said the court.In a relief to purchasers of the south Mumbai flat auctioned in December 2024 for Rs 2.5 crore, the HC held the bidding process of the bank, which mortgaged the flat, cannot be faulted, as the moratorium was invoked post-sale. The Union Bank loaned Rs 6.25 crore and issued notice in March 2017 to the borrower for default in repayment.The HC said chronic defaulters resort to provisions of IBC “to frustrate secured creditors and auction purchasers from proceeding, in accordance with law, under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (the Securitisation Act)”.The judgment was in a petition filed by the purchasers of the auctioned flat at Mazgaon who said they were being deprived of its possession.In November 2019, following two attempted proposals towards a one-time settlement (OTS), a magistrate’s court allowed the bank to take physical possession. The bank took symbolic possession in November 2022. The HC said the borrower did not challenge the symbolic possession.The bank then set auction dates, but got no bidders. After several failed attempts at OTS and auctions, the 10th auction of November 2024 was challenged by the borrower and guarantors before the DRT in December 2024. The flat was successfully auctioned on December 12, 2024, the HC said.The borrower then moved the NCLT to initiate the insolvency resolution process and immediately followed with a plea before the DRT to claim that moratorium kicks in once IBC proceedings are filed.More litigation ensued, leading up to the Supreme Court, which on February 26, 2026, confirmed orders of NCLT and its appellate tribunal in Delhi to exclude the Mazgaon flat from moratorium.The purchasers’ counsel Sidhart Samantaray said the borrowers and guarantors were “frustrating and thwarting” the process and depriving physical possession. Charles Dsouza, counsel for the bank, supported the purchasers’ contention. But Kruti Bhavsar, counsel for the loan borrowers and guarantors, said the DRT’s order was lawful and moratorium had kicked in on Oct 6, 2025, before the auction by a creditor invoking IBC in Guwahati NCLT.The HC said the IBC is meant as an effective legal framework for timely resolution, “improving the ease of doing business, facilitating more investments, leading to higher economic growth and development in the country”. But, it added, chronic defaulters use IBC to frustrate and paralyse the process.

The highly escalated Middle East war has now entered its third week, with no indication that the United States, Israel or Iran is willing to step back from the conflict. According to a report by the Center for Strategic and International Studies (CSIS), Iranian strikes on US military bases in the region have caused an estimated $800 million in damage in just the first two weeks.

Much of this damage occurred during the initial retaliatory strikes by Iran following the US and Israel’s opening attacks. “The damage to US bases in the region has been underreported,” said Mark Cancian, a senior adviser at CSIS and co-author of the think tank study. “Although that appears to be extensive, the full amount won’t be known until more information is available.”

Targeted strikes on US Infrastructure

Iran’s retaliatory operations focused on US air-defence and satellite-communication systems across Jordan, the United Arab Emirates and other strategic locations in the Middle East. A major component of the damage was inflicted on the AN/TPY-2 radar system at an air base in Jordan. This radar, part of the Thaad missile defence system is valued at approximately $485 million and is critical for intercepting long-range ballistic missiles, accoridng to BBC.

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Additional Iranian strikes caused an estimated $310 million in damage to buildings, facilities and other infrastructure on US bases.According to the satellite images, at least three US air bases – Ali Al-Salim in Kuwait, Al-Udeid in Qatar and Prince Sultan in Saudi Arabia were hit multiple times. In addition to equipment and infrastructure losses, the US has lost 13 service members since President Donald Trump joined Israel in launching attacks on Iran on February 28. According to the US-based Human Rights Activists News Agency (Hrana), the overall death toll in the conflict is estimated at nearly 3200, including around 1400 civilians.President Trump has emphasised that the US is achieving its objectives in the region. “We’re doing extremely well in Iran,” he said during a White House event.Iran has managed to target and damage several high-value aircraft despite the technological edge of the US and Israeli air forces. In total, the US has suffered damage to 16 aircraft in the conflict, including 12 MQ-9 Reaper drones, each costing up to $56.5 million.Three F-15 Strike Eagle fighter jets were lost in Kuwait on March 2, reportedly due to a friendly fire incident, while a KC-135 refuelling tanker was lost over Iraq on March 12, killing all six crew members aboard. Another KC-135 was damaged in the same incident.In a significant development, Iran reportedly struck a US F-35 stealth fighter on March 19. The US Central Command confirmed the aircraft made an emergency landing and the pilot remained stable. Meanwhile, Israel has reportedly lost over a dozen drones in Iranian airspace, bringing the combined aircraft losses for both countries to 28.

High-value radar systems targeted

Iran’s strikes have also focused on degrading the US missile defence network in the region. Up to four AN/TPY-2 radars associated with Thaad systems have reportedly been hit, including sites in Jordan, the UAE and Saudi Arabia. Each radar is valued between $300 million and $500 million and damage to these systems has reportedly rendered some inoperable.An AN/FPS-132 Block 5 Upgraded Early Warning Radar at Al Udeid Air Base in Qatar, valued at $1.1 billion was also struck. This radar provides long-range ballistic missile detection and supports integrated defence systems such as Thaad, Patriot and Aegis.“The missile hand of the Islamic Republic of Iran has been opened for successful target hits,” the Islamic Revolutionary Guard Corps (IRGC) said.

USS Gerald R Ford fire incident

The US Navy’s most advanced aircraft carrier, USS Gerald R Ford was rendered temporarily inoperable due to a fire on March 12. Crew members spent over 30 hours controlling the blaze, which affected the ship’s main laundry spaces.

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The incident is under investigation, with one possibility being deliberate sabotage. Reports suggest crew fatigue may have contributed, as the carrier had been deployed for nearly ten months, far exceeding normal operational timelines. The ship is scheduled for repairs at Naval Support Activity Souda Bay in Crete.

Rising cost of war

The conflict has placed an immense financial strain on the US. According to CSIS, munitions costs alone exceeded $12 billion in the first six days, roughly $2 billion per day. The Pentagon estimates the first six days cost $11.3 billion, with the first 12 days reaching $16.5 billion.Weapons costs are significant. For example, each Tomahawk missile costs around $3.5 million and over 300 have been used, totaling more than $1.2 billion. To maintain the war effort, the Pentagon has requested an additional $200 billion in funding from Congress. Defence Secretary Pete Hegseth emphasised the need for the same, saying, “It takes money to kill bad guys.”The ongoing conflict has exposed vulnerabilities in some of the US military’s most advanced systems. Iran’s cost-effective strikes have challenged the perception of invulnerability in modern warfare.While the US and Israel have inflicted damage on Iran’s military, the losses and degradation of advanced equipment illustrate the operational and reputational risks involved. As the war continues, the cost of managing operations and finances of the conflict will continue to mount.