JAL promoters file petition in SC over land cancellation in Noida
Noida:
Jai Prakash Associates Ltd
's (JAL) promoters have filed a special leave petition (SLP) in Supreme Court, challenging the Allahabad high court's decision that upheld the cancellation of the group's Sports City land along the Yamuna Expressway by the Yamuna Expressway Industrial Development Authority (YEIDA).
However, the court refused to grant any interim stay or relief on the plea filed on June 7. Instead, it issued notice and directed the current SLP be tagged with the already pending related case.
The petitioners had requested the court to maintain the status quo on the land. YEIDA had argued there was no justification for granting relief to the promoters at this stage citing two other SLPs where "no stay or status quo was granted".
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This development marks yet another legal twist in the protracted battle over the 1,000-hectare Sports City land, originally allotted to JAL for developing a mixed-use project with sports infrastructure, including the Buddh International Circuit. The land was cancelled by YEIDA in Feb 2020, citing non-payment of dues and violation of lease conditions. This led to multiple rounds of litigation.
The next hearing in the case is scheduled for July 29.
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The SLP — filed by Sunil Kumar Sharma and another suspended promoter in their personal capacity as guarantors to JAL's debt — came up for hearing on Monday before a bench comprising Justices KV Viswanathan and Nongmeikapam Kotiswar Singh.
The counsel, appearing for the petitioners, argued that the resumption of the land by the Yamuna Authority following the cancellation order substantially increased their liabilities as guarantors under the insolvency process.
They argued the 1,000-hectare land parcel in question — part of the Sports City project — is a key asset for JAL's financial recovery and revival under the Insolvency and Bankruptcy Code (IBC).
However, the legal team representing YEIDA objected to any interim relief. It submitted that two other SLPs — one filed by JAL through its insolvency resolution professional (IRP) and another by the committee of creditors (CoC) — were already heard by the court and no stay or status quo was granted.
In March, Allahabad high court upheld YEIDA's cancellation order and directed the Authority to take over the land and complete the incomplete group housing projects. launched by JAL over a decade ago.
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