Dholera SIR News.
The dated, sourced record of the Dholera Special Investment Region in Gujarat. Every entry carries the date it happened, the source it came from, and a plain label telling you how solid it is. Nothing on this site is for sale.
Last reviewed 11 August 2026

Money and the accounts

This page follows the money through the audited accounts of DICDL, the state-owned company that builds Dholera. Profit and loss, what is committed and unspent, what is owed and to whom, and what the national auditor said. Accounts are slower reading than announcements and they are much harder to argue with.

01Money and the accounts: every entry, newest first
10 November 2025DURABLEThe accounts
DICDL paid no dividend again, and its exemption request from the year before is still unanswered

The board recommended no dividend for 2024-25, and the request DICDL sent the state seeking exemption from the dividend rules for 2023-24 was still awaiting a reply when the report was signed on 10 November 2025.

10 November 2025DURABLEThe accounts
DICDL carries a Rs 318 crore liability for money the central corridor company spent on Dholera since 2008

Under the shareholders agreement, the central corridor company can recover what it spent developing the Dholera project before DICDL existed, and DICDL books that as a liability of Rs 317.95 crore covering the years from 2008-09 to 2024-25.

10 November 2025DURABLEThe accounts
Committed but unspent capital work at Dholera rose to Rs 341 crore

DICDL's commitments for capital assets and common infrastructure stood at Rs 341.09 crore at 31 March 2025, up from Rs 307.65 crore a year earlier.

10 November 2025DURABLEThe accounts
DICDL spent Rs 44.84 lakh on corporate social responsibility and left Rs 16.50 lakh unspent

The company's CSR spend rose from Rs 26.43 lakh in 2023-24 to Rs 44.84 lakh in 2024-25, with Rs 16.50 lakh unspent at the year end.

10 November 2025DURABLEThe accounts
Dholera's development company has had three managing directors since 2019 and no independent director

DICDL's own reports record three managing directors between September 2019 and the present, and record that the post of independent director sat vacant through 2023-24 so no independence declarations were obtained.

7 October 2025DURABLEThe accounts
The national auditor issued a nil-comment certificate on DICDL's 2024-25 accounts

The Comptroller and Auditor General of India, the constitutional auditor of government companies, reviewed DICDL's 2024-25 accounts and issued a nil-comment certificate on 7 October 2025, meaning nothing significant came to its notice.

02Everything else under this heading