YEIDA Moves NCLT Over ₹1,000 Crore Suraksha Group Dues
The Yamuna Expressway Industrial Development Authority has approached the NCLT to expedite ₹1,000 crore in pending enhanced land compensation, citing delays in payments to farmers.
- Suraksha Group has paid ₹334 crore out of the total ₹1,334 crore enhanced compensation.
- YEIDA says the outstanding ₹1,000 crore is linked to land acquired for development projects.
- Suraksha Group says the remaining payments will be made after possession of certain land parcels is received.
The Yamuna Expressway Industrial Development Authority (YEIDA) has approached the National Company Law Tribunal (NCLT) over ₹1,000 crore in pending enhanced land compensation allegedly payable by Suraksha Group. YEIDA CEO RK Singh said the authority wants the tribunal to expedite the payment process so that farmers receive the compensation promised for land acquired for development projects.
The total enhanced compensation amounts to ₹1,334 crore, reflecting a 64.7% increase promised to affected farmers. According to YEIDA, Suraksha Group has paid ₹334 crore so far, leaving ₹1,000 crore outstanding. The dispute concerns compensation commitments linked to land acquisition and the resolution plan submitted for taking over Jaypee Infratech Limited.
The compensation issue dates back to 2013, when YEIDA promised farmers higher payments for land acquired for development purposes. The authority planned to recover the additional compensation from land allottees, including real estate developers and individuals who had purchased plots from YEIDA.
The enhanced compensation was subsequently included in Suraksha Group’s resolution plan for acquiring Jaypee Infratech. YEIDA says the payment obligations outlined in the plan have not been fully met, prompting the authority to seek intervention from the NCLT.
YEIDA CEO RK Singh said the authority had issued notices to Suraksha Group regarding the outstanding amount, but the dues remained unpaid. He said the NCLT had been approached to accelerate the process and ensure farmers receive their money without further delays.
Suraksha Group CEO Abhijit Gohil said the company had already paid ₹334 crore and intended to clear the remaining amount. He attributed the delay partly to the pending handover of certain portions of land belonging to farmers.
Gohil said the company would begin making further payments once it received possession of the remaining land parcels. He also stated that Suraksha Group would comply with the resolution plan.
The pending compensation is significant for farmers awaiting the enhanced payments promised for their acquired land. Any further delay could prolong uncertainty over when they will receive the outstanding amounts.
The matter also highlights the challenges involved in resolving legacy obligations associated with stalled real estate developments and insolvency proceedings. For developers, land possession, compensation liabilities and compliance with tribunal-approved resolution plans can influence the progress of large projects.
Suraksha Group is developing the delayed Jaypee Wish Town residential projects after taking over Jaypee Infratech in 2024 under an NCLT-approved resolution process.
The immediate focus is on the NCLT proceedings and the resolution of the outstanding compensation dispute. YEIDA is seeking faster payment of the ₹1,000 crore balance, while Suraksha Group has indicated that further payments will follow once possession of the remaining land is secured.
The timing of the next payments will depend on the resolution of the possession issue and the company’s compliance with its payment commitments. Until the outstanding amount is cleared, the compensation dispute remains an important issue for affected farmers and stakeholders connected with the Jaypee Wish Town development.
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