NCLAT starts hearing YEIDA petition against Suraksha’s bid to acquire JIL. The National Company Law Appellate Tribunal (NCLAT) is hearing a plea by Yamuna Expressway Authority (YEIDA) challenging an NCLT’s order in an insolvency resolution submitted by Suraksha Group for debt-ridden Jaypee Infratech Limited (JIL). The case involves disputes over additional compensation to farmers and the impact on construction of thousands of flats. Stay updated with the latest developments in this ongoing legal battle.
The approval for the film city project was given by the UP Cabinet in March 2024 and later that month the award letter of the project was also issued for the concessionaire. A consortium led by Bollywood filmmaker Boney Kapoor’s firm Baywatch Projects LLP in association with Noida based developer Bhutani Infra will develop the Film City project near Noida International Airport along the Yamuna Expressway.
The Authority has to acquire around 244 hectares of land for the development of a dedicated industrial sector named as Sector 10 near Jewar Airport, and has released over Rs 650 crore to the Gautam Budh Nagar district administration for the purpose
A coram of Chairperson Justice Prakash Shrivastava and expert member Dr A Senthil Vel observed that a substantial issue relating to compliance with environmental norms was raised and accordingly, issued notice.