The Yamuna expressway industrial improvement authority (Yeida) on Wednesday mentioned it’s prone to talk about a proposal submitted by Jaypee sports activities worldwide restricted (JPSI), a subsidiary of Jaypee group, looking for aid for its sports activities metropolis challenge, in its board assembly to be held on Friday.

“The Jaypee group has demanded multiple reliefs via a proposal that it has submitted. The board will discuss all these issues in detail and then decide what to do with regard to the demands,” mentioned Arun Vir Singh, chief govt officer of Yeida.

JPSI is defaulting on fee of not less than ₹900 crore and has sought waivers on monetary dues, price of curiosity, fee schedule and different aid close to its sports activities metropolis challenge in Formula One Circuit alongside the 165km Yamuna expressway. The Jaypee group additionally desires Yeida to just accept land parcels in lieu of its dues.

Jaypee group submitted the proposal after instructions from Yeida in compliance with the Allahabad excessive courtroom’s order.

JPSI, which was allotted land for the circuit in 2011, defaulted on fee of ₹1,000 crore, so on December 21, 2019, Yeida had cancelled the allotment. Yeida had began the method of issuing a world tender to public sale the property and get well its dues, however JPSI filed a petition earlier than the Allahabad excessive courtroom, looking for a keep on the cancellation of allotment and the sealing on the grounds that Yeida couldn’t present fundamental providers it had promisesd, reminiscent of sewer connection and water provide, to the property.

Yeida can even talk about the handing over of the Jaypee infratech restricted’s (Jil) caught realty tasks to Mumbai-based Surksha group, which received the bid within the nationwide firm regulation tribunal’s company insolvency decision course of.

“The board will discuss liabilities such as who will take care of the financial obligations of farmers and other agencies once the Jil will be handed over to Suraksha group,” added Singh.

A spokesperson for the Jaypee group declined to remark.