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By:

Bhalchandra Chorghade

11 August 2025 at 1:54:18 pm

Palm Beach Road may get flyovers

Navi Mumbai: The arterial Palm Beach Road in Navi Mumbai could see the construction of flyovers at key junctions to ease persistent traffic congestion, with Navi Mumbai Municipal Commissioner Dr Kailash Shinde agreeing to explore the proposal for creating signal-free movement for through traffic. The proposal was discussed during a meeting between Dr Shinde and representatives of Climate Action Now (CAN) for MMR, a platform of NatConnect Foundation, and Palm Beach Greens on Friday evening....

Palm Beach Road may get flyovers

Navi Mumbai: The arterial Palm Beach Road in Navi Mumbai could see the construction of flyovers at key junctions to ease persistent traffic congestion, with Navi Mumbai Municipal Commissioner Dr Kailash Shinde agreeing to explore the proposal for creating signal-free movement for through traffic. The proposal was discussed during a meeting between Dr Shinde and representatives of Climate Action Now (CAN) for MMR, a platform of NatConnect Foundation, and Palm Beach Greens on Friday evening. The initiative follows representations made by the BJP legislator Adv Niranjan Davkhare and CAN seeking measures to address growing traffic snarls on the important north-south corridor. NatConnect Foundation director B N Kumar and Palm Beach Greens convenor D Shrikant Patki explained that strategically placed flyovers could allow through traffic to bypass several signals, reducing waiting time at intersections and preventing the cascading build-up of vehicles along the corridor. Dr Shinde, while acknowledging the representations from Davkhare and CAN by NatConnect, assured the delegation that he would definitely explore the flyover option. NMMC is already in touch with IIT-Bombay on the Palm Beach Road traffic issue and may also seek its inputs on the proposal. Kumar and Patki had earlier met Davkhare, who represents the Konkan Graduates’ constituency spread across Sindhudurg, Ratnagiri, Raigad, Thane and Palghar districts, to discuss various environmental issues. Davkhare subsequently took up the Palm Beach Road traffic issue with the NMMC Commissioner. The road carries substantial inter-city traffic, with thousands of vehicles heading towards Pune, Alibaug and Goa using Palm Beach Road after diverting from the Sion-Panvel Highway at Vashi. Such traffic adds considerably to the pressure on the corridor, particularly because vehicles have to negotiate multiple signals along the route. The environmental groups proposed a system in which through traffic could move without stopping at major junctions while local traffic continues to use the existing road network. They said such an arrangement could reduce congestion, fuel wastage and vehicular emissions besides improving travel time and road safety. Kumar pointed to worsening congestion on Palm Beach Road and identified Moraj Junction between Vashi and Nerul as a major bottleneck. The representation also highlighted traffic problems at Nerul, T S Chanakya, Akshar and NRI Seawoods junctions. According to the representation, the Moraj Junction bottleneck results in long delays, fuel wastage and inconvenience to thousands of daily commuters. It proposed straight flyovers carrying through traffic in both northbound and southbound directions, enabling vehicles to bypass signals and junction-level congestion.

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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