Latest news with #BMIC
Time of India
08-07-2025
- Business
- Time of India
Karnataka high court quashes Bangalore-Mysore Infrastructure Corridor land acquisition notifications & orders fresh award
Bengaluru: In a big relief for several landowners whose plots were acquired for the Bangalore-Mysore Infrastructure Corridor (BMIC) project, Karnataka high court has quashed the acquisition notifications issued between 1998 and 2009. Justice R Devdas passed this order, allowing the petitions filed by P Manjunatha Reddy and others, on the grounds that no award has been passed to date and no part of the petitioners' land was utilised by the respondents for the formation of expressway, interchanges, toll plaza, peripheral road, or link road. "More than 23 years have passed since the notifications for acquisition were issued during the years from 1998 to 2009, and awards have not been passed by the special land acquisition officer (SLAO). Having regard for the plight of landowners who are deprived of the use and occupation of agricultural lands and are losing their livelihoods, this court has no other option than to follow the judgment rendered by the division bench in the Shakunthalamma case," the judge observed. In said case, acquisition was quashed on the grounds that no award was passed even after the lapse of 11 years. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru In a related development, Justice Devdas directed the SLAO to pass a fresh award within three months by taking into account the market value prevailing on April 22, 2019, in respect of A Abdul Rehman Khan and other landowners. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo "The Supreme Court, in the Bernard Francis case, held that if compensation to be awarded at the market value of 2003 is permitted, it would amount to permitting a travesty of justice and making a mockery of the constitutional provisions under Article 300A," the judge further noted in his order. The state govt and Karnataka Industrial Areas Development Board argued that the top court's order was confined to the petitioners therein. This contention wasn't accepted by the high court.
The Hindu
07-07-2025
- Business
- The Hindu
BMIC project: Karnataka High Court quashes acquisition of several lands, as awards weren't passed even 23 years after notifying acquisition
In a major victory for many landowners, the High Court of Karnataka has set aside acquisition of several acres for the controversial Bangalore Mysore Infrastructure Corridor (BMIC) project as the Karnataka Industrial Areas Development Board (KIADB) had failed to pass awards for these lands even some 23 years after issuing final notifications. Justice R. Devdas passed the order on July 4 while allowing a batch of petitions, filed between 2014 and 2024, by P. Manjunatha Reddy and other landowners. The petitioner-landowners contended that the acquisition process could not be sustained as the KIADB's special land acquisition officer (SLAO) had failed to pass awards till date even though the preliminary notifications of acquisition under Section 28(1) of the KIAD Act, 1966 were issued between 1998 and 2009, and the final notifications, under Section 28(4) of the Act, were issued between 2003 and 2009. Justice Devdas relied on a verdict passed in 2023 by a Division Bench of the High Court in KIADB vs M. Shakunthalamma's case in which it had set aside an acquired land, which too was notified for the BMIC project, on the ground that no award was passed even after a lapse of 11 years since issuance of the final notification. The court also noted that the apex court had confirmed the Division Bench's judgment in the Shakunthalamma case. In the present case, the court noted that over 23 years had lapsed since the notifications for acquisition were issued between 1998 and 2009, and the awards had not been passed by the SLAO till today. 'Having regard to the plight of the landowners who are deprived of the use and occupation of lands and they losing their livelihood, this court has no other option, than to follow the judgment of the Division Bench in M. Shakunthalamma's case,' the court observed. Pointing out that petitioner-landowners had contended that their lands were not part of the BMIC project and no part of their lands had been utilised by the KIADB or the project proponent — Nandi Infrastructure Corridor Enterprises — for the formation of interchanges, toll plazas, peripheral road or link road, which were part of the project, the court noted that this claim of the petitioners were not controverted by the KIADB and others. Even though the courts had earlier upheld the legality of the preliminary and final notifications for acquiring these lands, the court said that not passing award was a fresh cause of action to challenge the validity of land acquisition proceedings. 'Pass awards afresh based on 2019 market value of lands' In a boon for some persons who lost their lands to the BMIC project, the High Court of Karnataka directed the KIADB to pass awards afresh for some of the lands, notified way back in 2003, for which the KIADB passed awards between 2019 and 2024 based on the land values between 2003 and 2011. Justice Devdas passed the order while disposing of a batch of petitions filed by A. Abdul Rehman Khan and others, whose lands were acquired for the project. The court passed the order while citing Supreme Court's January 2025 verdict in the case of Bernard Francis Joseph Vaz and others vs Government of Karnataka, in which the apex court directed the KIADB to pass an award fresh by taking the market value of the land as existed in 2019. In Bernard's case, the land was acquired in 2003 and utilised for the project sans passing award. However, the KIADB passed the award in 2019 relying on the 2011 market value of that land. Rejecting the pleas against extending the benefit of Bernard's case verdict to the petitioners, the High Court said that 'there cannot be discrimination in the matter of determination and award of compensation'.
Yahoo
29-01-2025
- Automotive
- Yahoo
Babel Cover unveils BMIC and landmark collaboration with Warranty Solutions Group
LONDON, Jan. 29, 2025 /PRNewswire/ -- Babel Cover, a British financial engineering and insurance technology company, proudly unveils the British Motorcycle Insurance Community (BMIC), an exciting and fast-growing brand dedicated to supplying UK bikers with innovative technologies to manage financial risk. In a strategic move to enhance its offerings, BMIC has forged a powerful collaboration with Warranty Solutions Group (WSG), bringing a custom-built motorcycle warranty solution to the UK riding community. Though a relatively young initiative, BMIC is rapidly carving a niche in the motorcycle insurance sector. With a strong commitment to offering tailored risk management solutions for bikers, BMIC is on a mission to empower riders with financial security and peace of mind. Learn more: "We are excited to establish the BMIC as a go-to brand for UK motorcyclists looking for smart, effective, and biker-centric financial products," said Stuart King, Founder & CEO of Babel Cover. "By joining forces with Warranty Solutions Group, we're taking another major step in transforming the way bikers manage financial risk." A Powerful Partnership: BMIC & Warranty Solutions Group Warranty Solutions Group, a dynamic and fast-growing provider of motor warranties, shares BMIC's vision of redefining financial protection for bikers. Having won multiple industry accolades, including "Warranty Provider of the Year" for three consecutive years, WSG has built a reputation for disrupting the warranty industry with its customer-centric, digital-first approach. Simon Drown, Head of Special Products & Motorcycles at WSG, said: "We are thrilled to partner with BMIC to provide a best-in-class warranty solution for UK motorcyclists. WSG is focused on delivering value-driven products, and through this partnership, we aim to bring unparalleled peace of mind to riders." The BMIC Warranty, available exclusively through the BMIC, offers comprehensive protection, including coverage for bikes up to 12 years old and 50,000 miles, over 3,000 parts and labour up to £5,000 with no excess, premium breakdown coverage in the UK, and 60 days of European protection. Learn more: Babel Cover's Evolution: From Cold Start to a Transformational Force Babel Cover has grown strategically since securing angel funding in 2018, launching a pilot with a European insurer in 2020, and attracting pre-seed investment from Söderberg & Partners to develop digital-first insurance for motorcyclists. In 2024, it secured multi-million-dollar seed financing from Markd, reinforcing its position as an insurtech disruptor. That same year, it expanded internationally by deploying digital motorcycle insurance in French Polynesia with Poe-ma Insurances. Babel Cover Investors: A Solid Foundation for Future Growth Babel Cover's financial backing reflects its strong potential and credibility in the insurtech industry. With key investors such as Söderberg & Partners, a major Nordic financial services provider, and Markd, a US-based insurtech venture capital firm, the company has secured the financial strength and strategic support to drive long-term success. These investors bring not only capital but also invaluable industry expertise and a shared vision for transforming insurance through technology. As Babel Cover continues to expand, it offers a compelling opportunity for bold investors eager to be part of the future of insurance innovation. What's Next for Babel Cover? As Babel Cover continues to innovate, its most ambitious venture yet is on the horizon, the launch of a radically transformative insurance-linked trading venue. By leveraging cutting-edge shared ledger technology, this platform will connect buyers, sellers, and algo-traders of insurance in a way never seen before, unlocking greater transparency, efficiency, and rewards for participants. "The next phase of Babel Cover's journey is all about breaking down barriers in insurance distribution and creating a hyper-connected financial ecosystem and how insurance is bought, sold and traded," added King. About Babel Cover Babel Cover is a British financial engineering and insurance technology start-up that connects buyers, sellers, and algo-traders over the internet. It is the operator of an insurance-linked trading venue that enables buyers to obtain digital rewards for lower claims, fostering loyalty and efficiency in policy distribution. Learn more: About Warranty Solutions Group Since forming in March 2021, WSG has continued to grow at a phenomenal pace and today is a leading provider of extended vehicle warranties, working with over 2,500 motor dealers across the UK. Fuelled by quality, passion and experience, the company is on a mission to continue driving up standards for vehicle buyers and setting the benchmark for other warranty providers. WSG offers superior warranty products to vehicle buyers through its network of approved dealerships. WSG products are backed up with brilliant customer care and a range of benefits, many of which dealers and motorists won't find anywhere else. Learn more: Logo - View original content: Sign in to access your portfolio
