Mumbai: The Bombay High Court on Tuesday quashed the money laundering case against Chamankar Enterprises and its three partners, who were accused of irregularities in the award of contracts for the Maharashtra Sadan in New Delhi, the RTO building at Tardeo and an SRA project in Kalina.

A bench of Justices Ajey Gadkari and Rajesh Patil quashed the FIR against Krishna Shantaram Chamankar, Prashant Shantaram Chamankar, and Prasanna Shantaram Chamankar and their firm Chamankar Enterprises.

They had moved the HC after the special PMLA court in October 2024 declined to discharge them, holding that the “scheduled offence is not finally absolved by a court on account of discharge.”

The Anti-Corruption Bureau (ACB) had booked Chamankars in 2015, alleging that in return for the projects, kickbacks were paid to family members of then PWD minister Chhagan Bhujbal.

Although the ACB case was closed in July 2021, with the trial court discharging the firm and its directors, the Enforcement Directorate (ED) continued with a prosecution under the Prevention of Money Laundering Act (PMLA) on the same allegations.

Petitioners’ counsel pointed out that the discharge order passed by the special court on July 31, 2021, had not been challenged for over four years and had thus “attained finality”.

The trial court had categorically held that Maharashtra Sadan and other projects “were constructed as per the contract” and that “there was no material against the petitioners”, their plea contended.

The ED opposed the plea, citing a Jammu and Kashmir (J&K) High Court ruling that PMLA prosecution can continue even if the predicate offence is quashed. However, the agency admitted that they were discharged from the predicate offence.

The HC rejected this argument, stressing that the J&K ruling had no binding effect in Maharashtra and that the Supreme Court’s precedents in other cases were clear.

“It is an admitted fact on record that the petitioners have been discharged by the trial court from the predicate offence registered by the ACB, and the said order has attained finality,” the bench observed in its detailed order.

Relying on the apex court’s finding that acquittal or discharge in the predicate offence extends to those named in a related PMLA case, the HC held: “The conclusion enumerated by the Hon’ble Supreme Court…. squarely applies. Therefore, the ECIR and the charge-sheet filed thereof deserve to be quashed and set aside.”

The Maharashtra Sadan, the state government’s guesthouse in New Delhi, was redeveloped during Chhagan Bhujbal’s tenure as PWD minister. The project became the centre of a major controversy after allegations surfaced that contracts were awarded to firms linked to Bhujbal’s associates in exchange for kickbacks.

The ACB registered a case in 2015, leading to Bhujbal’s arrest and prosecution. Although the Chamankars were named in the alleged scam, the trial court in 2021 discharged them, finding no irregularities in the awarding of contracts or execution of work.

Bhujbal was arrested in 2015 and remained in custody until he was granted bail by the HC in 2018. In 2021, a special court discharged Bhujbal, his son Pankaj, nephew Sameer (former MP), and five others from the ACB case.

Mumbai: Urban Company created a big buzz on its first day in the stock market. The company’s IPO (Initial Public Offering) was listed on September 17 on both the BSE and NSE. The issue price was Rs 103 per share, but it opened much higher at Rs 162.25 per share. This gave investors an immediate listing gain of almost 60 percent, which is a huge return on the first day itself.

The Rs 1,900 crore IPO opened for subscription from September 10 to 12, and it received an overwhelming response. The IPO was subscribed more than 103 times in total. This means demand was over 100 times more than the number of shares available. Big institutional investors showed the most interest, but retail and high-net-worth investors also participated in large numbers.

Out of the total IPO amount, Urban Company raised Rs 472 crore as fresh issue, and the rest came through an Offer for Sale (OFS) of Rs 1,428 crore. The company plans to use the fresh funds for marketing initiatives and technology upgrades, which will help it grow faster. Before the IPO, Urban Company also raised Rs 854 crore from major anchor investors, including names like SBI Funds, HDFC Mutual Fund, Fidelity, Nomura, Goldman Sachs, and others.

Urban Company is a popular platform that offers home and beauty services. Customers can book services such as cleaning, pest control, plumbing, carpentry, electrical work, painting, beauty treatments, grooming, and massage therapy. The company currently operates in 51 cities across India, UAE, and Singapore, and it is also present in Saudi Arabia through a joint venture. Urban Company is growing quickly and aims to become a global leader in home services.

Mumbai: After three consecutive days of heavy rainfall that disrupted normal life across Mumbai and the Konkan belt, the India Meteorological Department (IMD) has forecast relatively moderate conditions for the city on Wednesday. While isolated spells of rain are likely to continue, the intensity is expected to ease compared to the last few days.

According to the IMD, Mumbai will experience cloudy skies with light to moderate showers throughout the day. A few pockets may receive slightly heavier spells, though widespread intense rainfall is not expected. Maximum temperature is likely to hover around 28°C, while the minimum may settle near 25°C. Winds will remain mild, offering some respite to residents who have battled waterlogging and traffic snarls since the weekend.

Neighbouring Thane and Navi Mumbai will see a similar pattern. Cloudy weather with drizzle and moderate rain at intervals has been forecast for both regions. Daytime temperatures will remain close to 28°C, while night temperatures are expected between 24°C and 25°C. Winds here, too, will be light to moderate in intensity.

In Palghar, no official weather alert has been issued. However, light to moderate rainfall is expected in parts of the district through the day. Skies will stay overcast, with maximum temperature near 28°C and minimum around 25°C.

Meanwhile, districts along the Konkan coast, Raigad, Ratnagiri and Sindhudurg, remain under a yellow alert. The IMD has cautioned residents to expect heavy showers in isolated areas, accompanied by gusty winds along coastal stretches. Cloudy skies will dominate the day, and rainfall could be more intense compared to Mumbai and Thane. In these districts, the maximum temperature may touch 29°C, with minimum temperatures likely to remain close to 25°C.