The National Company Law Appellate Tribunal confirmed the resolution plan proposed by Suraksha Realty Limited for Jaypee Infratech Limited as part of its Corporate Insolvency Resolution Process. The NCLAT's bench, comprising Chairperson Justice Ashok Bhushan and Technical Member Barun Mitra, held that Suraksha Realty must pay ₹1,334.31 crore to YEIDA over the next four years. Consequently, YEIDA was held to …
The Court was hearing Jaypee's challenge to the cancellation of allotment. The Allahabad High Court has declined the proposal of M/s Jai Prakash Associates to sell off certain portion of the 1,000 hectares land earlier allotted to it under the Special Development Zone Project in the Yamuna Expressway Development Area, for clearing the dues of YEIDA. An interim order was …
The Audit noticed in March 2019 that out of 150 khasras of revenue records, the actual area in 17 khasras was 6.3990 hectares. The YEIDA, however, overlooked the area actually available in land records and purchased an area measuring 7.989 Noida: The Comptroller and Auditor General report of the financial year 2019-2020 has revealed that Gautam Budh Nagar’s Yamuna Expressway …
)