YEIDA officials part of dubious land deals: SC | India News
NEW DELHI: Supreme Court on Monday found transactions between two real estate majors – Jaiprakash Associates and Gaursons Mega Projects (GMP) – to be dubious and said officials of Yamuna Expressway Industrial Development Authority (YEIDA) were “hand in glove” in the matter.The court was hearing YEIDA’s plea challenging an Allahabad high court order annulling its transfer fee demand of Rs 114 crore for transfer of a 72,000 sqm land by JAL, which it had received from Jaypee Infratech Limited (JIL), to GMP.Appearing for YEIDA, solicitor general Tushar Mehta and senior advocate Ranjit Kumar said, “The demand was raised against GMP, which acquired leasehold interest through a chain of sub-leases – first from JAL who, in turn was a sub-lessee of JIL, the original lessee of YEIDA.”The land transfers were done in a space of two days, and the price was increased from Rs 318 crore for the second transfer to Rs 410 crore for the third in Aug 2023, the solicitor general said.
