UPSIDA’s Cancellation of Piaggio’s 33-Acre Plot in Noida Upheld Over Non-Utilisation: Supreme Court

In a landmark ruling, the Supreme Court of India upheld the cancellation of a 33-acre industrial plot in Surajpur, Greater Noida, allotted to M/s. Piaggio Vehicles Pvt. Ltd. The dispute arose because the company failed to develop and utilize the land as per the terms of the lease agreements executed in 2002 and 2007. The land was originally allotted to another entity in 1985 and later transferred to Piaggio’s predecessor…