Yeida moves NCLT over rRs.r1000 cr dues by Suraksha Group
India, Oct. 23 -- The Yamuna Expressway Industrial Development Authority (Yeida) has approached the National Company Law Tribunal (NCLT), seeking intervention over the alleged delay by Suraksha Group in paying Rs.1,000 crore in hiked land compensation to farmers, Yeida CEO RK Singh said Thursday.
The total compensation amounts to Rs.1,334 crore, representing a 64.7% raise promised to farmers whose land was acquired for development projects. Yeida said the group has paid Rs.334 crore, leaving Rs.1,000 crore outstanding.
In 2013, Yeida promised farmers enhanced compensation for their acquired land. The amount was to be recovered from land allottees, including developers and individuals who purchased land from the authority.
The resolutio...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.