IVP Ltd Wins Bombay High Court Case Against Port Authority

IVP Ltd has received a favorable judgment from the Bombay High Court in a writ petition filed against the Mumbai Port Authority (MBPA). The court has quashed and set aside notifications, circulars, and demand notices related to the revision of rent/Scale of Rates (SOR) and retrospective demands from 2012 up to March 31, 2024. The court ruled that rent rates will continue to be governed by the Compromise Proposal rates until March 31, 2024. For rent fixation after April 1, 2024, the court stipulated that it must be fair, reasonable, and in accordance with Supreme Court principles.