
T-Series denies land nod, key Gr Noida road to decongest Pari Chowk back in limbo
Greater Noida Authority
's claim that it agreed to give up land in Namoli village for a 1.5km six-lane road from LG Chowk to Knowledge Park-3.
The Rs 31-crore project, stalled for 15 years, is designed to unclog the crucial junction of Pari Chowk, improve connectivity between the city's knowledge hubs, and provide a direct link between Noida sectors 146-147 and Greater Noida. Currently, a single-lane carriageway, built in 2010, struggles to handle two-way traffic, creating safety hazards and severe congestion at the roundabout.
Earlier this month, GNIDA had said it had secured in-principle approvals for the project, which will feature a modern six-lane road, including three lanes in each direction, along with service roads, a central verge, and a drainage system.
On Friday, T-Series accused the Authority of breaking promises and making unilateral decisions. It accused the Authority of misleading the public and media by suggesting that a settlement was reached for the acquisition of land owned by the company in Namoli.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Free P2,000 GCash eGift
UnionBank Credit Card
Apply Now
Undo
The company insisted it set conditions—the Authority should acquire only 10 acres needed for the road, allot alternate land of equal size in the vicinity and approve a development plan for its remaining land—before the final agreement for the land acquisition.
"This land lies between Surajpur-Kasna Road and Expo Mart in Knowledge Park 3 and has been legally owned by T-Series since 1987, before GNIDA's formation in 1991. Gulshan Kumar bought around 300 acres from different landowners," said Vinay Kumar Mittal, a T-Series spokesperson.
The land is non-agricultural, freehold in nature, and was used by our group for industrial purposes until operations were halted due to the construction of a railway line under the Dedicated Freight Corridor, which bisected the property. At one time, T-Series operated around 15 manufacturing units here, producing cassettes, incense sticks, and other items. These units eventually shut down as cassettes became obsolete, Mittal added.
He claimed that in 2009-10, GNIDA began constructing a road from LG Chowk to Knowledge Park 3 without formally acquiring T-Series land. When the company objected, officials allegedly assured them of alternate land. "We fell for their talks," said Mittal.
After 12 acres were used for one carriageway, T-Series demanded GNIDA fulfil its promise. When denied, the company halted construction of the second carriageway by approaching the Allahabad High Court.
Mittal alleged GNIDA capitalised on the partially completed road by selling nearby land at premium rates without compensating T-Series. "We were misled with false assurances. Now they want more land without addressing our long-pending demands," he said.
The company warned of legal action if its concerns remain unaddressed.
To resolve the impasse with T-Series, the Authority in its March 29 board meeting had proposed a conditional settlement. Under this proposal, 40% of undeveloped land was to be returned to the company, subject to payment of external development fees as per current GNIDA rates. The remaining 60% was to be acquired by the Authority with compensation paid at prevailing circle rates.
T-Series currently has about 197 acres in its possession. GNIDA also proposed that land coverage, FAR and setback norms, applicable in 1992 (before the area came under GNIDA's jurisdiction), would be honoured, though current FAR charges would apply during purchase. Layout maps would be prepared after formal agreements with the company.
The proposal was also sent to the state govt for approval.
The company has said that it has rejected the offer. "We have not agreed to hand over any percentage of our remaining land, nor consented to any terms and conditions. We are ready to part with only 10 acres of land strictly needed for the road, not an inch more. If the Authority proceeds without resolving our concerns, we will approach the court and stop construction," Mittal said.
GNIDA sources, meanwhile, indicated that if talks fail, they may invoke emergency provisions under the Land Acquisition Act in public interest now, given the road's strategic importance for regional connectivity, especially ahead of the Noida International Airport becoming operational.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


India.com
23 minutes ago
- India.com
Who will be the new owner of JP Associates, the Company drowning in over Rs 570000000000 debt? Adani, Jindal Vedanta, Dalmia emerge among bidders
Who will be the new owner of JP Associates, the Company drowning in over Rs 570000000000 debt? Adani, Jindal Vedanta, Dalmia emerge among bidders Jaiprakash Associates Limited (JAL), part of the Jaypee Group, was admitted to the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC) on June 3, 2024, by the National Company Law Tribunal (NCLT). This action was taken due to the company's default on loan repayments. The process aims to find a resolution plan to revive JAL and address its significant debt of over Rs. 57,000 crore Under the corporate insolvency resolution process, five potential buyers have shown interest by submitting their resolution plans. However, the company has not revealed their names yet. According to some media reports, big names like the Adani Group, Vedanta, JSPL (Naveen Jindal), Dalmia Bharat, and PNC Infratech are likely in the race to take over the debt-ridden company. What's the case with JP Associates? As per SEBI rules, the resolution professional (RP) confirmed that five applications were received before the deadline. These applications also included earnest money deposits, which show that the interested parties are serious about buying the company. These buyers want to take control of JP Associates' assets and bring the company back on track. Potential buyers of JP Associates A total of 25 companies have shown interest in taking over Jaiprakash Associates. Big names like Gautam Adani's Adani Enterprises, Anil Agarwal's Vedanta, and Baba Ramdev's Patanjali Ayurveda are among the top bidders aiming to acquire the company. Major Corporates: Adani Enterprises Vedanta Patanjali Ayurveda Torrent Power Ltd Dalmia Cement (Bharat) Ltd GMR Business & Consultancy LLP Jaypee Infratech Jindal India Power Jindal Power Ltd Kotak Alternate Asset Managers Ltd PNC Infratech Oberoi Realty Other Interested Bidders: Authum Investment & Infrastructure Consortium of Winro Commercial (India) & Parakh Advisors Dickey Asset Management India Opportunities XII Investments J C Flowers Asset Reconstruction Jaithari Thermal Power Jakson Ltd Oriental Structural Engineers Paschim Sagar Properties Rashmi Metaliks Sherisha Technologies Sigma Corporation (India) Ltd Winchain Infrastructures These companies are now part of the bidding process to potentially take over and revive JAL under the insolvency resolution process. The final decision will depend on which plan is approved by the lenders. What happens next? Now, the resolution professional will carefully review all the proposals and present them to the Committee of Creditors (CoC). Based on the selected plan, steps can be taken to revive and rebuild the company. About JP Associates Once considered one of India's top infrastructure companies, Jaiprakash Associates ran into deep trouble due to heavy debt and delays in its projects. Eventually, the company had to enter bankruptcy proceedings under the Insolvency and Bankruptcy Code (IBC). How much debt does JP Group owe? The company was taken to insolvency proceedings after the conglomerate defaulted on payment of loans. Creditors are claiming a total of a staggering Rs. 57,185 crore to banks and financial institutions. Recently, the company shared that a group of lenders has moved their outstanding loans to the National Asset Reconstruction Company Limited (NARCL). However, the total value of the transferred loans was not disclosed.


Hans India
33 minutes ago
- Hans India
AP records highest GST collection in first quarter
Vijayawada: Andhra Pradesh recorded highest net GST collections amounting to 78,860 crore, reflecting a growth of 3.40% in first quarter of financial year. Total tax collections in Q1 (including all sectors) stood at Rs 213,361 crore, compared to Rs 13,096 crore in FY 2024-25, showing a growth of 2.02%, which indicates a sustained and healthy growth trajectory over the same period, according to Commissioner of Commercial Taxes Babu A. For three consecutive months - April, May, and June 2025, the State has recorded the highest-ever net GST collections for each respective month when compared to any previous financial year. This remarkable performance highlights the State's strong economic recovery, effective enforcement actions and the success of targeted policy initiatives aimed at expanding the tax base and enhancing compliance. The steady upward trend in GST collections not only demonstrates the resilience of the State's revenue systems but also the increasing vitality of its commercial and industrial sectors. In June 2025, Andhra Pradesh collected a total tax (all sectors) revenue of Rs 4,167.66 crore, an increase from Rs 3,910.47 crore in June 2024. This reflects a growth of 6.58%. The growth was mainly driven by higher GST collections (Rs 2,598 crore, up from Rs 2,419 crore) and notable gains under VAT on petroleum products and profession tax. The net GST collections for June 2025 stood at Rs 2,591 crore, the highest - ever for the month of June since the implementation of the GST regime in 2017. Compared to June 2024, there was a significant rise in net GST collections, emphasising enhanced tax compliance, streamlined IGST settlements, and an expanding tax base. The rise in revenue from petroleum products over the past two months indicates a boost in economic activity and better compliance in the sector. Professional tax collections experienced an exponential increase in Q1, with a notable 70% growth in June 2025 compared to the same period last year. The notable rise in net GST collections is significant because it shows the actual revenue credited to the State's account after adjustments for IGST settlements and related transfers. Unlike gross GST collections, which include total tax paid across different components, net collections give a clearer and more accurate view of the State's fiscal health. This figure represents the real funds available for Andhra Pradesh to spend on public services, infrastructure and welfare programmes, thus serving as a reliable indicator of the State's economic strength and available resources, according to Commissioner of Commercial Taxes Babu A. This has been achieved by utilising data analytics and Al tools to identify outliers, prevent revenue leakages and curb tax evasion effectively. In this context, the most accurate indicator of the State's financial health is net revenue collection, which has grown by 7.10% under the GST Act and 6.58% under all Acts in June 2025 compared to the previous year. This growth reflects the actual revenue accrued to the State, as it considers the SGST and IGST settlement amounts, providing a more precise picture of the State's fiscal situation.


Time of India
37 minutes ago
- Time of India
Crizac IPO opens today: Check GMP, price band, and other details
Crizac's Rs 860 crore IPO opens today with the issue entirely comprising an offer-for-sale of 3.51 crore equity shares in the price band of Rs 233–245 apiece. The IPO will close on July 4 and the company is expected to list on the BSE and NSE on July 9. Ahead of the issue opening, the GMP is 9% over the issue price. Incorporated in 2011, Crizac operates a B2B international education platform that connects universities from the UK, Canada, Ireland, Australia, and New Zealand with global student recruitment agents. It sources student applications from over 75 countries via a proprietary technology platform, leveraging a network of more than 10,000 registered agents. The company has shown explosive growth, with total income rising from Rs 274 crore in FY23 to Rs 849 crore in FY25 — a CAGR of 76%. PAT jumped from Rs 110 crore to Rs 152 crore over the same period, with FY25 earnings per share at Rs 8.74 and net margins of 18%. Crizac operates debt-free and has strong cash flows, indicating a healthy balance sheet. At the upper end of the price band, the issue is valued at a P/E of 28x FY25 earnings and P/B of 9x, placing it roughly in line with its only comparable listed peer, IndiaMART , which trades at similar multiples. The lot size for retail investors is 61 shares, requiring a minimum investment of Rs 14,945. High net-worth investors must apply for a minimum of 14 lots (854 shares), translating to Rs 2.09 lakh. Review: Robust fundamentals meet global growth story Analysts said Crizac is uniquely positioned to benefit from the sustained outflow of Indian students to foreign universities, a market expected to touch 2.5 million students by 2030. Its B2B model, focus on Tier-1 geographies, and scalable tech infrastructure make it a rare listed play in the international education facilitation space. However, investors must weigh the regulatory risks. The UK and Canada, Crizac's largest markets, have recently tightened student visa norms — a trend that could pressure future revenue growth. "Crizac combines digital platform scale, a rising global education trend, and disciplined financial performance — elements that long-term investors typically prize. Subscribe for long-term gains," said Canara Bank Securities.