Setback for Jaypee Group as Yamuna Expressway Authority cancels 1,000 hectare land that has F1 Circuit
Updated : December 23, 2019 06:26 AM IST
The decision was taken by the Yamuna Expressway Industrial Development Authority (YEIDA) during its 66th Board meeting.
The embattled business group defaulted on payments of over Rs 500 crore, he added.
The Jaypee group had sub-leased plots to 11 builders on the allocated land and separately had taken around Rs 2,000 crore from homebuyers in 10 projects but not delivered it.