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By:

Minal Sancheti

2 May 2026 at 12:26:53 pm

Tussle between BMC, WR leaves Dadar dry

Mumbai: Dadar is the only railway station in Mumbai that has no authorised water connection. This, as per the sources, is due to an ongoing dispute between the Western Railway and the BMC. The tussle between the BMC and the Western Railway has led to a strange situation. The Western Railway is asking the BMC to pay Rs 338 crore for way leave charges, and the Western Railway has to pay Rs 22 Lakh to the BMC. The tussle has been going on for 12 years and remains unresolved. As per the sources,...

Tussle between BMC, WR leaves Dadar dry

Mumbai: Dadar is the only railway station in Mumbai that has no authorised water connection. This, as per the sources, is due to an ongoing dispute between the Western Railway and the BMC. The tussle between the BMC and the Western Railway has led to a strange situation. The Western Railway is asking the BMC to pay Rs 338 crore for way leave charges, and the Western Railway has to pay Rs 22 Lakh to the BMC. The tussle has been going on for 12 years and remains unresolved. As per the sources, due to this, the BMC has not given any new connections to the Western Railway, which needs the connections because of the increase in the capacity of new coaches. Currently, the Western Railway is facing a water shortage of 20 per cent for train operations. Thus, the water is being filled at the next train stops like Surat and Valsad, or wherever the train halts. The dependency on water tankers has increased because the Western Railway did not have enough water connections from the BMC. This has caused more expenditure for the Western Railway. For Dadar terminus, the Western Railway uses 40 water tankers, each water tanker of the capacity of 10,000 litres, which comes down to four lakh litres of water every day. Around eight water tankers of the capacity of 10,000 litres, which comes down to 80,000 litres of water, are required for Dadar station. In total, the Western Railway incurs expenses on 4,80,000 litres of water every day. BMC PRO Tanaji Kamble has denied that there was no water connection at Dadar Railway Station. “Every station has BMC water connection,” he said. Chief Public Relations Officer (CPRO) of Western Railway Vineet Abhishek said, “All efforts are being taken to ensure there is no inconvenience to our passengers.”

Lateral upgrade to ailing annihilation

Updated: Oct 21, 2024

Lateral upgrade to ailing annihilation

Being the first person from the private sector to be appointed as chairperson of Securities and Exchange Board of India (SEBI) as part of the government’s lateral initiative, Madhabi Puri Buch also holds the honour of being the first woman to hold the top post as capital market regulator.

But the laurels that the former private sector banker enjoyed in her earlier stint with ICICI Bank, was marred with allegations that she and her husband were having a stake in offshore entities, which were used to artificially inflate shares of Adani group companies.

Terming the allegation as `character assassination, Buch clarified that all disclosures have already been furnished and the fund in question did not invest in any securities involving the Adani group.

When it rains, it pours. This allegation was subsequently followed by Congress Party allegation that Buch had received salary and post-retirement benefits from ICICI Bank after she quit the private sector bank.

In its clarification to the stock exchanges, ICICI Bank asserted that the payments made to Buch were purely retirement benefits after her exit from the bank and they were neither salary nor employee stock options.

Prior to these allegations, Buch tenure at SEBI was all about bringing in quick reforms on operational issues by changing the format of consultation paper to bring in larger responses digitally. Being data savvy, the rationale of her decisions were democratic based on big data analysis derived from the responses received to the consultation papers.

Further she bifurcated the duties of the SEBI staff between operations and enforcement, which were done by the same persons earlier. Having worked for the private sector in the capital market domain space, Buch had a better understanding of the subject compared to officers from the administrative service in the past that reflected even in her orders as a whole-time director at SEBI before becoming the chairperson. As a whole time director at SEBI, her orders on adjudication issues were more directional to the capital market space, according to experts in the compliance space. She was also quick to revamp the old provisions of the 90s at SEBI.

Being tech and data savvy, Buch enhanced regulatory surveillance and detection of market manipulation, insider trading and fraud while also emphasizing on strengthening corporate governance by introducing stricter rules for independent directors and enhancing disclosures for related-party transactions.

To put in perspective, the annual report of the capital market regulator in the just concluded financial year revealed that the number of investigations related to insider trading jumped to 175 in 2023-24 from 85 in the preceding year while probes related to front running jumped over three times to 83 from 24 in the preceding year.

Transparency in mutual funds by implementing measures to protect retail investors along with tightening norms for initial public offers, particularly in the SME platforms were some of her other positive initiatives including confirmation of denial of any market rumours within 24 hours for the top 100 listed companies which will be extended to top 250 companies from December 1. However increased transparency and compliance with tightening regulations led to increased operational costs for the market participants and hence faced resistance from certain quarters. Born in 1966, Buch completed her primary education in Mumbai and graduated with specialization in Mathematics from Delhi and later obtained a management degree from Indian Institute of Management, Ahmedabad. In between, she got engaged to Dhawal Buch, a director at a consumer goods multinational at the age of eighteen and got married at the age of 21.

Besides ICICI Bank, Buch also worked as a lecturer at a college in England, worked at Greater Pacific Capital in Singapore and ICICI Securities as its CEO. She also worked as executive director on several private sector companies and as a consultant for New Development Bank (Brics Bank).

What now remains to be seen, is whether Buch, who survived the 26/11 terror attack when she along with her husband, was attending a meeting at Taj, be able to overcome the current ordeal. Keeping fingers crossed for the times to come.

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