Mumbai, Sep 7: In a major move to boost its long-term development plans, the Maharashtra government on Monday constituted a specialised tendering committee to oversee the creation and operationalisation of a dedicated State financial institution.

Registered as a Non-Banking Financial Company (NBFC) with the Reserve Bank of India (RBI), this entity is designed to cater to the state’s massive estimated infrastructure credit requirement of Rs 25–35 lakh crore over the next decade under the ‘Viksit Maharashtra 2047’ blueprint.

According to a Government Resolution (GR) issued by the Finance Department, the newly formed multi-disciplinary committee will drive the selection process for an expert advisory agency.

The procurement will follow a two-stage evaluation process — starting with an Expression of Interest (EoI) for shortlisting followed by a Request for Proposal (RFP) for final selection.

The initiative targets standardising funding channels to support the state’s ambitious Rs 25–35 lakh crore infrastructure push over the coming ten years.

The Maharashtra government hopes the state economy to become $1 trillion by 2029-30 and $5 trillion by 2047.

The state government’s move to raise funds worth Rs 25 to 30 lakh crore needed to achieve ‘Viksit Maharashtra 2047’ vision through NBFC is important due to constraints in raising funds during the volatile market conditions.

“Of the credit need of Rs 25-30 lakh crore, Rs 10-12 lakh crore are proposed for Metro expansion (Mumbai Metropolitan Region at Pune in Nagpur), Coastal Road extensions, Shaktipeeth and Ring Expressways, Vadhavan Port connectivity, Rs 3.5-4.5 lakh crore for Solar/wind generation, pumped storage projects, grid modernisations, and 24×7 rural water supply grids, Rs 3-4 lakh crore for AI Innovation cities, semiconductor clusters, auto/EV manufacturing zones, and logistics parks, Rs 1 lakh crore for island tourism, coastal cruises, fort conservation, and luxury resort hubs and Rs 1.5 lakh crore for the upgradation of smart villages, micro-irrigation networks, and rural cold-chain logistics.”

Stage 1 involves pre-qualification via an EoI response, while Stage 2 will consist of technical presentations and financial bidding under an request for proposal (RFP).

A four-member high level committee has been formed to ensure transparency, neutrality, and statutory compliance under the Companies Act, 2013.

The committee comprises key officials from administrative, legal, and finance sectors to maintain rigorous oversight.

The committee will be chaired by Finance Department Secretary (Financial Reforms) as Chairman/Presiding officer for administrative alignment and financial restructuring approvals, representative of law and judiciary (minimum deputy secretary rank as member (Legal) to provide legal oversight for company incorporation, Memorandum of Association and Article of Association vetting, and Companies Act compliance, expert nominated from RBI Bank or leading public sector bank to bring in specialised domain expertise in banking and NBFC operations and the Finance Department Deputy Secretary as member secretary to manage documentation, official correspondence, and state e-tendering.

The committee has been tasked with clear responsibilities throughout the procurement lifecycle to review and approve pre qualification and eligibility criteria for the expression of interest, open and verify state e-portal EoI submissions, evaluating candidate “Approach Notes”, and conducting technical presentations, finalise a shortlist of advisory firms scoring 70 marks or higher to advance to the RFP phase and oversee RFP technical/financial evaluations, analyse commercial bids, and submit final recommendations to the state government for selecting a single advisory partner agency.

Mumbai: The Marine Drive Police have registered a case against 6 to 7 unidentified car drivers for endangering their own lives and the lives of others by driving at high speeds and in a reckless manner on the southbound stretch of the Coastal Road. A Mumbaikar named Sana Khan recorded a video of the speeding drivers and posted it on social media, prompting the police to take action.

According to the police, the incident occurred around 11:15 PM on the night of September 3, 2026, on the southbound Coastal Road near Marine Drive. The complainant, Satish Nivrutti Sangle (42), is a police constable attached to the Marine Drive Police Station.

It was reported that unidentified drivers of approximately 6 to 7 cars—colored yellow, red, and others—drove at high speeds without adhering to traffic regulations, thereby endangering their own lives and the lives of others.

Based on the complaint, the police have registered a case (Crime Register No. 341/26) under Sections 281 and 125 of the Bharatiya Nyaya Sanhita (BNS) and Section 184 of the Motor Vehicles Act. The case was registered at 10:55 PM on September 4, 2026.

No arrests have been made so far. The police have identified the vehicles involved, and proceedings to seize them are underway. Further legal action against the unidentified drivers is in progress. Sana Khan is a journalist by profession and has previously served as a journalism professor.

Sana Khan recounts that while she was out for a drive with her family, cars suddenly sped past her in a terrifying manner inside the coastal tunnel; while the standard speed limit there is 60 km/h, these vehicles were moving at a dangerously high, potentially lethal speed. She recorded a video of the incident and posted it on social media, prompting the police to take action. She expressed her gratitude to the Mumbai Police for treating the matter seriously, noting that strict action will now be taken against those who disregard the lives of others for the sake of their own amusement.

Mumbai: Even after the results of the Mumbai Municipal Corporation (BMC) elections were declared, the troubles of the winning candidates show no signs of abating. The defeated candidates in the elections have challenged the election of the winning corporators on various grounds. A total of 79 election petitions have been filed, according to information provided by the BMC to RTI activist Anil Gilgali. Meanwhile, the issue of election petitions has resurfaced after the recent cancellation of former mayor Visakha Raut’s post as a corporator. This shows that winning an election is not the final stage. Legal scrutiny of documents related to the election process such as affidavit details, caste certificates, and various declarations made by the candidate are equally important. Importantly, these petitions do not target councillors of any single party. Rather, challenges have been filed against corporators of all major parties in Mumbai. This raises questions about the legality and security of these councillors’ posts after the elections.

Objections from caste certificate to asset details
The petitions filed by defeated candidates raise several serious issues. These include objections to the validity of caste certificates, allegations of false or misleading information provided by the candidates, and disputes regarding disclosures about criminal cases, assets and financial affairs.

While contesting elections, candidates have to disclose personal, financial and legal information through an affidavit. If there are any inconsistencies or allegations of providing false information, legal action can be initiated. Thus, the entire matter highlights the crucial importance of every piece of information provided in election petitions and affidavits. Highest number of petitions against Shiv Sena (UBT). According to the data provided by the Municipal Corporation, a party-wise analysis shows that the maximum number of petitions have been filed against 24 corporators of the Shiv Sena (Uddhav Thackeray) faction.

This is followed by 16 petitions against BJP, 10 against Congress, and 7 against Shiv Sena (Shinde faction). Apart from this, 5 petitions have been filed against AIMIM, 2 against MNS and 1 against Nationalist Congress Party (NCP).

Election of 5 corporators annulled
Out of a total of 79 petitions, negative decisions have been passed against 5 corporators so far, resulting in their elections being annulled. These include 2 from Shiv Sena (UBT), 2 from AIMIM, and 1 corporator from NCP.

This makes it clear that winning the election is not the final milestone. Factors ranging from the candidate’s nomination to the accuracy of the information provided in the affidavit and the accuracy of the documents related to the election process are also equally important.

Election transparency issue in the spotlight again
These figures have come to light from the information sought by RTI activist Anil Gilgli. It is essential that the information presented to voters by candidates who are elected as public representatives is accurate and factual. Any allegation of errors, inconsistencies, or concealment of facts can potentially affect the election results.

With 79 election petitions filed, the cancellation of the elections of 5 corporators, and the recent cancellation of the term of former Mayor Visakha Rawat, the issue of transparency regarding the nominations and affidavits of candidates in the Mumbai Municipal Corporation elections is once again in the spotlight.

All eyes in political circles are now on the decisions regarding the remaining petitions. If the elections of more corporators are called into question, it could change the numerical strength of various parties within the municipal corporation.

Despite winning through the mandate of the voters, the candidates find themselves facing judicial scrutiny. In this situation, a legal challenge has arisen regarding the election of corporators of all parties in the Mumbai Municipal Corporation.