Yeida injects funds to finish 12 JAL projects
At a meeting with homebuyers on Friday, Yeida CEO Arun Vir Singh discussed issues related to finalising a new developer and the process to address the grievances. 'Following the Allahabad High Court orders, Yeida has decided to infuse funds from its own pockets so that the work can start and homebuyers can get apartments without further delay. Our objective will be that the homebuyers get hassle-free justice and choose to either exit by taking refund or take possession of their flat. We have decided to form a portal so that the buyers get updates without visiting our office,' the Yeida CEO said.
For the purpose, Yeida has hired a consulting firm Currie & Brown to conduct a comprehensive ground survey and assess the current condition of these housing schemes. The firm is expected to submit its report within 15 days. 'Following this, a request for proposal (RFP) will be drafted to select a new developer under the Engineering, Procurement, and Construction (EPC) model to complete the construction,' Singh said.
Hope floats for thousands of homebuyers as their houses are stuck in the stalled residential projects of Jaypee Associates Limited along the Yamuna Expressway.
'We booked a flat in this project in 2011 with the hope of getting possession in 2014. But we have been struggling since then to get justice. In 2020 Yeida cancelled the lease of the project land. Jaypee took the matter to the Allahabad high court, which has ordered Yeida to build the project. Now we hope to get possession as Yeida has promised and is ready to infuse funds. There are 8,000 homebuyers who are in distress due to the fault of Jaypee Associates Limited,' said Shamendra Singh, general secretary of Jaypee Sports City welfare society, who met the CEO on Friday.
Through the platform, officials said, affected homebuyers will be able to submit details such as project registration, payment history with the previous developer, and their preference to either continue with the project or opt out.
The authority has named Amarpal, who has been representing the buyers in the National Company Law Tribunal (NCLT) proceedings, as the authorised representative of the homebuyers on the high court-mandated committee.
'A sub-committee of various homebuyers' associations has been formed to protect buyer interests and coordinate with the authority, Amarpal will be the sole representative on the formal committee. OSD Shailendra Bhatia has been appointed as the nodal officer to address homebuyers' complaints and ensure smooth execution of the revival process,' Singh announced.
According to the Allahabad high court order, Jaiprakash Associates Limited (JAL) has lost the project as the order upheld Yeida's decision to cancel the lease. Now Yeida has the lease in its name, and the mandate to build the project as JAL has lost control over it.
To recall, the case goes back to 2008, when Yeida allotted about 1,000 hectares of land under the Special Development Zone (SDZ) to Jaypee International Sports, a subsidiary of JP Associates, to build a sports city. The project included the Buddh International Circuit, which hosted a MotoGP race in 2023, and several residential developments that were never completed.
'Due to non-payment of dues, Yeida cancelled the land allotment in February 2020. Earlier this year, the Allahabad High Court upheld this cancellation and directed the authority to take over and complete the housing projects,' Singh explained at the meeting.
The high-level oversight committee includes the principal secretary of Industrial Development, chairman of UP-Rera or a nominated representative, Yeida CEO Arun Vir Singh, a representative from the housing department, and the authorised homebuyer representative. The authority also plans to go ahead with developing international-standard sports infrastructure as originally planned.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
12 hours ago
- Time of India
Logistics management was deciding factor in success of Op Sindoor: Rajnath Singh
Vadodara: Logistics management was a key factor in the success of Operation Sindoor , said defence minister Rajnath Singh while addressing the third convocation ceremony of Gati Shakti Vishwavidyalaya (GSV) virtually on Sunday. The event was presided over by Ashwini Vaishnaw, the first Chancellor of GSV and also the union minister for railways, information and broadcasting, and electronics and IT. Singh emphasised that in today's era, wars are won not just with guns and bullets, but through the timely delivery of resources—citing Operation Sindoor as an excellent example of effective logistics management. "The speed at which the world is changing is both impressive and startling. The defence sector is also transforming, and we are witnessing major shifts in the methods of warfare," he said. The union minister stated that managing logistics effectively determines a country's fate on the battlefield, with victory or defeat often depending on it. "Logistics management was a deciding factor in the success of Operation Sindoor. The way various agencies handled logistics—from mobilising our armed forces to delivering required material at the right place and time—proved crucial," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Real-Time Conversations in 68 Languages? AI Just Made It Possible Enence 2.0 Undo He underscored that logistics should not be viewed merely as the movement of goods but as a strategically vital sector. "It is logistics that turns a location into a battlefield. Without it, it becomes a zone of confusion. Arms and ammunition have no meaning if they don't reach the right place at the right time. The stronger our logistics management, the stronger our borders," Singh added. "Today, power is not measured only by weapons but by timely resource management. Whether in war, disaster, or a global pandemic, it has been proven that a nation with a strong logistics chain is the most stable, secure, and capable," he said. Explaining the importance of logistics for the armed forces, Singh said it ensures timely delivery of weapons, fuel, rations, and medicines to remote areas for the Army; spare parts and equipment to ships for the Navy; and ground support and uninterrupted fuel supply for the Air Force. "Just imagine, if we have advanced missile systems but the electronics required to launch them do not arrive in time, then that technology becomes useless," he said, stressing that the 'PM Gati Shakti' initiative launched by Prime Minister Narendra Modi is an extension of the idea of integrated logistics. GSV vice chancellor Vaishnaw highlighted the institute's achievements, stating, "In just two and a half years, the university has collaborated with leading companies, giving students the opportunity to gain real-world, applied knowledge." He added that GSV has gained recognition from the World Economic Forum and will now focus on the marine sector—particularly shipping and ports. He also stressed the increasing need for engineers in infrastructure development, especially in bridges and tunnels. GSV, he announced, will launch an M Tech course in bridge and tunnel engineering and will set up a Centre of Excellence in the same field, where experts can specialise in design and maintenance. A total of 194 students from B Tech, BBA, and MBA programmes were awarded degrees at the convocation ceremony.
The Hindu
16 hours ago
- The Hindu
Government rejects Congress' allegations about a ₹2.1 lakh crore organic cotton scam in Madhya Pradesh
The Government on Sunday (July 27, 2025) termed the allegations by the Indian National Congress that normal cotton was being sold as organic cotton in Madhya Pradesh as being 'unfounded, unsubstantiated and misleading', saying that the Agriculture & Processed Food Products Export Development Authority (APEDA) takes concrete steps whenever wilful violations of organic cotton standards are found. Former Madhya Pradesh Chief Minister and senior Congress leader Digvijaya Singh on Saturday (July 26, 2025) called for a court-monitored Central Bureau of Investigation (CBI) probe into an alleged ₹2.1 lakh crore scam in the sale of normal cotton as organic cotton in Madhya Pradesh. 'It may be mentioned that in a press briefing by an opposition leader yesterday, unfounded, unsubstantiated and misleading aspersions are being cast against the Organic Certification programme, the National Programme of Organic Production (NPOP),' the Ministry of Commerce and Industry said in its statement. 'Generalised allegations against a robust regulatory system of the country for a particular crop/region/group of operators only serve to undermine the credibility of legitimate regulatory institutions and the broader organic movement in India,' it added. Mr. Singh said that the objective of NPOP, launched in 2001 by the Ministry of Commerce and Industry and implemented by APEDA, was to certify and regulate the export of organic products. Under this framework, he explained, the NPOP accredits certification bodies, which in turn verify internal control systems. However, he alleged that most farmers who are shown as registered under the internal control systems (ICS) do not grow organic cotton. He added that the government provides these farmer groups with ₹50,000 per hectare for three years to promote organic cotton. 'In short, ICS groups have deliberately committed fraud by adding farmers' names to obtain transaction certificates,' Mr. Singh alleged. The government, however, has categorically refuted this. 'It is clarified that APEDA or the Department of Commerce does not extend any subsidy to farmers taking up organic cultivation under the NPOP,' the statement said. 'The figure of ₹50,000 per hectare and the further wrongly imputed calculations have no basis.' While the government did admit that, despite its checks and balances, 'there have been reported incidences of malpractices and misuse of grower group certification', APEDA has taken strict and concrete action against violators. 'Stringent action has been taken against the cases of wilful violation and severe non-conformities of Certification Bodies with the NPOP standards,' the statement said. 'The NPOP regulations have been revised, bringing in stricter norms in terms of legal entity of grower groups, close monitoring through ICS offices in the vicinity of the grower group, and inspection of grower groups through a mobile app is going to be started shortly.' Further, it said that new procedures have been devised for additional checks for certification of organic cotton production, including a manifold increase in the number of unannounced inspections. 'Wherever credible evidence of non-compliances/wilful violation of organic standards has been brought to light, APEDA has undertaken extensive investigation and taken concrete measures,' the government clarified. 'All such matters are subjected to structured investigation following principles of natural justice. Any Certification Body or operator found violating norms is penalised as per NPOP regulation.'
India Today
17 hours ago
- India Today
Seamless logistics management key to Op Sindoor's success: Rajnath Singh
Defence Minister Rajnath Singh, while addressing an event on Sunday, credited seamless logistics management as the deciding factor in the success of Operation Sindoor, stating that wars today are won not just with weapons, but with the timely delivery of resources.'Seamless logistics management by our agencies – from mobilisation of the Armed Forces to delivering the equipment at the right time and place – was a deciding factor in the success of Operation Sindoor,' said the Defence Minister, while virtually addressing the convocation ceremony of Gati Shakti Vishwavidyalaya (GSV) in emphasised that logistics should be viewed through the prism of strategic importance. 'Whether it's the soldiers fighting on the border or personnel engaged in disaster management, without coordination or proper management of resources, even the strongest of intentions weaken. Logistics is the power that transforms chaos into control. Power is measured not only by weapons, but also by timely resource management,' he said. The Defence Minister highlighted logistics as a crucial element in national stability, security and capability. 'Be it war, disaster or global pandemic, the nation which keeps its logistics chain strong is the most stable, secure and capable,' he Defence Minister underlined the importance of logistics in economic development, calling it a key pillar that connects every step from pre-production to consumption. He cited the role logistics played during the COVID pandemic, enabling the movement of vaccines, oxygen cylinders, and medical teams during critical said that India has seen unprecedented infrastructure development over the last 11 years, driven by policy reforms and mission-mode projects. This, he added, has improved economic productivity, reduced logistics costs, and enhanced service delivery.'Under the PM GatiShakti National Master Plan, seven powerful pillars of development like Railways, Roads, Ports, Waterways, Airports, Mass Transport and Logistics Infrastructure are together giving a strong foundation to India's economy. PM GatiShakti is not just a scheme, but a vision – which is making infrastructure futuristic through cutting-edge technology and data-based planning,' Singh to the National Logistics Policy, he stated that the initiative aims to build an integrated, efficient and cost-effective logistics network. 'The policy aims to bring down the current 13–14% logistics cost to the level of developed countries. This will increase the competitiveness of Indian products in domestic and global markets,' he said. 'Reduction in logistics cost will increase efficiency in all sectors and will boost value addition and enterprise growth.'On Gati Shakti Vishwavidyalaya, Singh said, 'GSV, one of the most prestigious study centers in the country in terms of logistics, is not just an educational institution, it is an idea, a mission. It is giving concrete form to the national aspiration of taking India forward in a fast, organised and coordinated manner.'advertisementHe described digitisation, automation, real-time tracking, AI-enabled logistics forecasting, and sustainable freight systems as national necessities, and appreciated the efforts of GSV and its students in these Defence Minister urged students to become problem-solvers. 'For India to become Viksit Bharat by 2047, one of the things we need is smart logistics systems. No country can become developed until goods, services and people move fast and easily in the country,' he Shakti Vishwavidyalaya, established in 2022 as a central university under the Ministry of Railways, is dedicated to creating world-class talent in the logistics and transportation sectors. Union Minister for Railways, Information & Broadcasting, and Electronics & IT Ashwini Vaishnaw is its first Chancellor. He was present at the event along with Vadodara MP Hemang Joshi and Vice-Chancellor Professor Manoj Choudhary.- EndsMust Watch
