A board meeting of the Yamuna Expressway Industrial Development Authority (YEIDA) on Thursday empowered the authority CEO to cancel the allotment of 1,000 hectares of land to Jaypee Sports International Limited, which owns the Budh International Circuit, if the firm fails to clear its dues of Rs 250 crore by the next month.
The board took the decision in its 65th meeting on Thursday.
The YEIDA had in 2009-10 allotted 1,000 hectares of land under special development zone (SDZ) in Sector 25 along 165km Yamuna Expressway that connects Greater Noida with Agra, said officials. This land is not part of debt-ridden Jaypee Infratech Limited that is facing corporate insolvency proceedings initiated by national company law tribunal, said officials.
