20 October, 2020

Formula One For Insolvency

The empire Jaiprakash Gaur built from scratch is now on the verge of being declared bankrupt

Grounded
Jaiprakash Gaur, 86, holds on amidst the turbulence
Photograph by Getty Images
Formula One For Insolvency
outlookindia.com
2017-08-19T11:14:58+05:30

The Big Ones

  • The Jaypee Group’s first foray into real ­estate came in the late 1990s, when it ­acquired a project in Greater Noida from ­another group and called it Jaypee Greens
  • In 2002, the group got the contract for the Taj Expressway in Uttar Pradesh, which was renamed Yamuna Expressway in 2007
  • Jaypee Group’s Formula One track in Greater Noida has seen three events so far

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Chitta is a village near Anoopshahar, an old town on the ­Ganga in Bulandshahr district of Uttar Pradesh. Compared to other villages that meld seamlessly into the western UP landscape, one would find Chitta more than a little unusual. Its neatly organised network of roads and flourishing educational institutions make it seem as if a stray molecule from a developed state has appeared, out of the blue, in this sugarcane belt. The well-appointed university at Anoopshahar, a stone’s throw from Chitta, could give stiff competition to institutions in several...

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