Yamuna Expressway to refund ~41.14 cr to Jaypee Infratech

An arbitrational tribunal has directed Yamuna Expressway Industrial Development Authority to refund ~41.14 crore along with interest to bankruptcy-bound Jaypee Infratech, saying the demands raised by the authority against the builder are illegal and invalid. The majority order was passed last week, with presiding arbitrator Justice O P Garg and co-arbitrator Justice V K Gupta ruling in favour of this refund while another coarbitrator Justice P K Srivastava dissenting.