Legal Challenges for Jaypee Sports City Buyers Amid Adani Takeover
NOIDA: The National Company Law Tribunal (NCLT) has approved Adani Enterprises’ ₹14,535 crore resolution plan for Jaiprakash Associates Ltd (JAL) in accordance with the Insolvency and Bankruptcy Code, 2016. The future of the stalled Jaypee Sports City project, along with the thousands of homebuyers affected, is now contingent upon the outcome of a simultaneous legal dispute before the Supreme Court. The Supreme Court is scheduled to hear a petition from the developer challenging a March 2025 ruling by the Allahabad High Court, which affirmed the decision made by the Yamuna Expressway Industrial Development Authority (YEIDA) to annul JAL’s allotment of…