Jai Prakash (JP) Associates, who is surrounded by financial difficulties, wants to sell Yamuna Express project. He has sought permission from the Supreme Court in this regard. The JP Group asked the Supreme Court that it wants to sell the land surrounding Yamuna Express Way to another company for 2500 crore. Allow it to be given to them. Let me know that the Supreme Court had ordered that till October 27, the JPC deposited Rs 2000 crores of Registry.
The Supreme Court had ordered the deposit of this amount in the previous hearing on the case of JP Infratech’s declaration of bankruptcy. After this order, JP Infra had pleaded for relief from the court. However, the court refused to hear his plea. It also said that we will not make any modifications in our order.
Yamuna Authority’s dues amounted to Rs. 453 crores on the JP Group. That’s why the Yamuna Express Authority overturned its SEZ lease by jerking the JP Group. The Authority had alloted 500 acres of land. This land was leased from the Authority to the private builders on sub-lease.
It is on both sides of Yamuna Express Way in Greater Noida. Buddha International Circuit and Sports City is near the land. That is, the right to land around Yamuna Express Way can soon be received by another company. The Supreme Court will next hear the matter on October 23.