HC Upholds YEIDA’s Decision to Cancel Greenbay Land Allotment
NOIDA: The Allahabad High Court’s Lucknow bench has issued an injunction against the Yamuna Expressway Industrial Development Authority (YEIDA) from canceling Greenbay Infrastructure’s land allotment for its 100-acre township project in Sector 22D. YEIDA is prohibited from proceeding with the cancellation until the state government addresses the company’s two revision applications seeking relief under the “zero period” policy, which concerns non-possession of 30-35% of the land. The “zero period” policy allows developers some relief from interest and penalties on unpaid land dues for projects that have been stalled. This interim order, issued on July 30, came just one day before…
