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Formula One For Insolvency

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

Formula One For Insolvency
Grounded | 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

***

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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