Latest news with #PhaseIII
Indian Express
11 hours ago
- Politics
- Indian Express
Delhi govt to review 20 years of arbitration cases exceeding Rs 1 crore
The Delhi BJP government has instructed the Public Works Department (PWD), Water and Irrigation and Flood Control (I&FC) departments to submit records of all arbitration cases involving claims exceeding Rs 1 crore from the past 20 years. This comprehensive audit aims to assess the extent of financial losses arising from legal disputes and bring transparency to how public funds were spent or lost in the last two decades, said officials. This comes a day after Chief Minister Rekha Gupta directed the Anti-Corruption Branch (ACB) to probe irreugularities in the construction of the Barapullah Phase III corridor and the arbitration case that arose due to delays. Accusing the then AAP government of corruption, Gupta had highlighted that the project, scheduled for completion in October 2017, was repeatedly delayed and eventually ran into arbitration. 'The ruling favoured the contractor with an award of Rs 120 crore. When the payment was withheld, the company approached the High Court, which, in May 2023, ordered the PWD to pay Rs 175 crore, including interest and GST. The sum was subsequently paid during the tenure of then-PWD Minister Atishi,' read a statement from the CM's Office (CMO) issued on Monday. The three departments, which manage roads and drains, have been asked to provide year-wise and award-wise data — including the total number of arbitration cases exceeding Rs 1 crore; cases decided against the government, along with brief descriptions; the amount paid or losses incurred in such cases; and the number of appeals filed before making payments. 'This audit comes amid mounting concerns over repeated legal setbacks in infrastructure and civil works, many of which have resulted in heavy payouts to private contractors,' said officials. Earlier, PWD Minister Parvesh Sahib Singh had announced the removal of arbitration clauses from the department's new contract conditions. This means that any future disputes between the department and contractor will be settled exclusively in court. 'Public funds must be treated as sacred. For years, departments have settled claims through arbitration without exhausting legal options — this won't continue. We are auditing two decades of arbitration history to identify who was responsible and why legal battles were surrendered. Importantly, I have now removed the arbitration clause from PWD contracts. If there's a dispute, let it go to court. No easy money through arbitration anymore,' Singh said. Officials said that this strategic shift is expected to act as a strong deterrent to frivolous claims and force all stakeholders — government and contractors alike — to approach project disputes with more seriousness and legal preparedness. 'With this 20-year review, the Delhi government aims to establish structural reforms in contract enforcement and legal strategy — preventing future financial haemorrhage and reinforcing public trust in governance,' said officials.
New Indian Express
4 days ago
- Business
- New Indian Express
Decks cleared for land pooling for Infopark phase III expansion in Kerala
KOCHI: With the state government issuing an order instructing the Greater Cochin Development Authority (GCDA) to pool 300 acres of land in Kizhakkambalam for Infopark's Phase III expansion, the space-starved IT park can now breathe easy. According to Chandran Pillai, GCDA chairman, decks have been cleared with regard to land pooling. 'Earlier, we didn't get the go-ahead from the chief minister's office. Then there was the problem associated with the approval from Kizhakkambalam panchayat. We got that too,' he said, adding that the GCDA team associated with the land pooling will now study similar cases, like the Amaravati model. 'This is a first-of-its-kind step in the state. We don't have a precedent. We are studying the Amaravati model and others. Careful study needs to be done before we begin the process,' Chandran said. Discussions will also have to be held with the IT and revenue departments, as well as the district collector to hammer out the nitty-gritties of the procedure, he said. 'However, the fact we have got the green signal is a big step forward in terms of the Infopark Phase III project. Envisaged as a township it is a prestigious project for the city and also much-needed, since we have a queue of companies wanting to set up offices at the IT park,' Chandran said. In the 10 years encompassing two tenures of Pinarayi Vijayan government, 352 new firms launched their offices in Phases I and II, creating over 73,500 jobs, said an Infopark official. The city's IT sector has seen a steady growth since the inception of Infopark, from 100 acres with four companies in 2004 to 583 companies in 2025 -- tech giant IBM Software's Ecosystem Incubation Centre (EIC) being the latest entry. Started as a small unit providing employment to close to 100 people, IBM has grown exponentially in the last three years to grant jobs to over 35,000 IT professionals.
Time of India
5 days ago
- General
- Time of India
Green Tape: Tree-Cutting Nod Holds Up Major Infra Projects
New Delhi: Several important infrastructure projects are facing delays due to permissions pending for tree felling and transplantation. According to details, a copy of which is with TOI, approximately 500 trees need to be either transplanted or felled for at least seven of these projects. Tired of too many ads? go ad free now The affected works include the Barapullah elevated corridor Phase III, the sports university at Ghevra village, Nand Nagri flyover, Okhla campus of GB Pant Engineering College and Polytechnic, hospital at Raghubir Nagar and a double-decker viaduct at Bhajanpura. The Barapullah Phase III has been marred by persistent setbacks since construction began in 2015 and of which 690 metres remain to be built between Sarai Kale Khan and Mayur Vihar. Initially estimated at Rs 964 crore, the project's cost has now escalated to Rs 1,330 crore. At a recent PWD meeting, it was revealed that the forest department had forwarded the permission application to the Central Empowered Committee (CEC), which works under the Supreme Court, and CEC had directed the site to be re-surveyed in the presence of officials from the forest department and details like the trees' geo-locations, species and girth at breast height submitted. The re-survey has revised details of 333 trees within the alignment of the corridor. The Nand Nagri flyover, meant to be a link between UP's Ghaziabad and Wazirabad in Delhi via Signature Bridge, is only 70% done when it should have been completed by July last year. The latest development is that the flyover has received a special area exemption under the Delhi Preservation of Trees Act, enabling a tree officer to make the final decision on the felling or transplantation of trees falling in the project site. Tired of too many ads? go ad free now The meeting also discussed the sports university to be built on 79 acres in Ghevra village. A tree survey conducted by the consultant found that 3,212 trees of the around 9,000 trees on the plot need to be chopped down and 88 transplanted. The meeting record says, "PWD is requested to ask the sports university official to provide land for compensatory plantation. Forest department and environment department clearance awaited. " Sources confided that the project could be put on the back burner. The GB Pant Engineering College and Polytechnic Okhla Campus is also delayed due to the required revalidation of tree-cutting permission plus lack of funds. Trees have also hit the setting up of a semi-permanent or temporary ICU hospital at Raghubir Nagar. Only 50% of the project has been finished. The double-decker viaduct on the Maujpur-Majlis Park metro corridor, a joint venture between PWD and DMRC, is almost ready. However, the ramp connecting the road with the flyover is yet to be built for lack of permission to chop down trees. Delhi govt recently notified new SOPs for tree felling and transplantation under the Delhi Preservation of Trees Act. Unlike earlier, it is now mandatory for CEC to review all requests for felling 50 or more trees.
Yahoo
6 days ago
- Business
- Yahoo
Akeso Announces First Patient Enrolled in the Phase III Trial（AK112-312/HARMONi-GI6）of Ivonescimab for First-Line Treatment of Advanced Metastatic Colorectal Cancer
HONG KONG, July 15, 2025 /PRNewswire/ -- Akeso, Inc. ( ("Akeso" or the "Company") is pleased to announce that the first patient has been successfully enrolled in the registration Phase III clinical trial (AK112-312/HARMONi-GI6) of ivonescimab in first-line treatment for advanced metastatic colorectal cancer (mCRC). This randomized, controlled, multi-center Phase III clinical trial for first-line treatment of mCRC is one of the company's key initiatives to address the significant unmet clinical need worldwide with ivonescimab. Colorectal cancer remains the third most common cancer globally and the second leading cause of cancer-related deaths. In 2022, over 1.9 million new cases were reported, with approximately 904,000 deaths. Of these, about 95% of mCRC cases are classified as microsatellite stable (MSS) or proficient mismatch repair (pMMR), which traditionally show poor responses to immunotherapy and the tumors are often referred to as an "immune desert." For first-line treatment of MSS/pMMR-type mCRC, which represents up to 95% of cases, several PD-1/L1 inhibitors have been explored in multiple international studies. However, the efficacy has been limited, and as of now, no first-line immunotherapy has been approved globally for patients with pMMR/MSS-type mCRC. Chemotherapy combined with targeted therapies (such as bevacizumab, cetuximab, etc.) remains the standard first-line treatment for mCRC, though its overall efficacy is limited, with a five-year survival rate for advanced patients of less than 20%. Bevacizumab is the most well-established and clinically impactful treatment in the mCRC space. It is also one of the core indications of bevacizumab. At the 2024 European Society for Medical Oncology (ESMO) Congress, Professor Yanhong Deng from the Sixth Affiliated Hospital of Sun Yat-sen University, presented promising Phase II efficacy data of ivonescimab in combination with chemotherapy for first-line treatment of MSS/pMMR-type mCRC. The combination of ivonescimab with FOLFOXIRI demonstrated compelling anti-tumor activity in this hard to treat patient population, with an overall response rate (ORR) of 81.8% and a disease control rate (DCR) of 100%. After a median follow-up of 9 months, the median progression-free survival (mPFS) was not reached, with a 9-month PFS rate of 81.4%. Regardless of KRAS/BRAF mutation status, patients can benefit from ivonescimab combination therapy. The results published at the 2024 ESMO suggest that ivonescimab may offer a significant improvement over existing treatment options for MSS/pMMR mCRC patients. The Phase III trial AK112-312/HARMONi-GI6 can potentially further validate the clinical benefits of ivonescimab in this setting, offering a novel first-line immunotherapy treatment option for patients with advanced mCRC. Forward-Looking Statement of Akeso, Inc. This announcement by Akeso, Inc. ( "Akeso") contains "forward-looking statements". These statements reflect the current beliefs and expectations of Akeso's management and are subject to significant risks and uncertainties. These statements are not intended to form the basis of any investment decision or any decision to purchase securities of Akeso. There can be no assurance that the drug candidate(s) indicated in this announcement or Akeso's other pipeline candidates will obtain the required regulatory approvals or achieve commercial success. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements. Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; Akeso's ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the Akeso's patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions. Akeso does not undertake any obligation to publicly revise these forward-looking statements to reflect events or circumstances after the date hereof, except as required by law. About Akeso Akeso (HKEX: is a leading biopharmaceutical company committed to the research, development, manufacturing and commercialization of the world's first or best-in-class innovative biological medicines. Founded in 2012, the company has created a unique integrated R&D innovation system with the comprehensive end-to-end drug development platform (ACE Platform) and bi-specific antibody drug development technology (Tetrabody) as the core, a GMP-compliant manufacturing system and a commercialization system with an advanced operation mode, and has gradually developed into a globally competitive biopharmaceutical company focused on innovative solutions. With fully integrated multi-functional platform, Akeso is internally working on a robust pipeline of over 50 innovative assets in the fields of cancer, autoimmune disease, inflammation, metabolic disease and other major diseases. Among them, 24 candidates have entered clinical trials (including 15 bispecific/multispecific antibodies and bispecific ADCs. Additionally, 7 new drugs are commercially available, and 2 new drugs with 2 new indications are under regulatory review for approval. Through efficient and breakthrough R&D innovation, Akeso always integrates superior global resources, develops the first-in-class and best-in-class new drugs, provides affordable therapeutic antibodies for patients worldwide, and continuously creates more commercial and social values to become a global leading biopharmaceutical enterprise. For more information, please visit and follow us on Linkedin. View original content: SOURCE Akeso, Inc. 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Time of India
22-07-2025
- Business
- Time of India
Infopark Phase III land pooling clears key hurdle
Kochi: The proposed Phase III campus of Infopark, planned in 300 acres in Kizhakkambalam panchayat, is a step closer to reality with the local self govt department (LSGD) formally appointing the greater Cochin Development Authority (GCDA) as the land pooling agency for the project. Earlier, the govt had decided to implement the Phase III project using the land pooling model and nominated GCDA as the executing agency. However, since Kizhakkambalam lies outside GCDA's jurisdiction, the agency sought special approval to proceed. With the latest LSGD order, GCDA has now been officially authorized to carry out land pooling in the area. A GCDA official confirmed that the new order removes a major procedural hurdle. However, further progress depends on the approval of the IT department, which has yet to give the green light to Infopark authorities. The proposal has been pending with the department for several months. The govt envisions a township-model IT hub under Phase III in the Kunnathunadu assembly constituency. As per the land pooling scheme, landowners will receive 60% of their original land post-development, with the value expected to rise three to four times. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo Since this is Kerala's first project to follow the land pooling approach, GCDA recently hosted a workshop to familiarize stakeholders with the process. Demand for additional space at Infopark has been rising steadily. Phases I and II are already at full capacity, with over 600 companies operating and more than 70,000 professionals employed. Currently, more than 120 firms are on the waiting list for space. The Phase III expansion is expected to attract investments of around Rs 12,000 crore and generate IT employment for over one lakh individuals.
