Jaiprakash Inds is a victim of vendetta: Gaur

Taj Expressway controversy

The Taj Expressway, which will link Delhi and Agra with a 160 km road running along the Yamuna, has got mired in political vendatta, according to Jaiprakash Gaur, chairman of Jaiprakash Industries, the company which was awarded the contract to implement the project.

"The name of our company is getting maligned in the political witchhunt," Gaur told Business Standard.

Though the project was conceived when Rajnath Singh was heading the Bhartiya Janta Party government in Uttar Pradesh, Jaiprakash Industries won the bid when Mayawati became the chief minister.

Once she resigned and Mulayam Singh Yadav became chief minister, an enquiry commission was set up to go into the award of the contract.

Jaiprakash Industries filed a petition in the Allahabad High Court against the constitution of the commission. The court have directed the state government not to open the report and take any action on it unless a judgement on the petition has been taken. "My case is very sound," Gaur said.

Questions have been raised on Jaiprakash Industries being handed over 6,000 acres of land along the highway.

"This was a sweetener put in by the state government. There are no major cities along the expressway. It is a risk the company is taking. The total acquisition cost along with interest has been paid for us for this land. We may get Rs 1,500 crore from selling this land, which will be our equity contribution for the Rs 4,000 crore project," Gaur said. Jaiprakash Industries has already entered into a contract to sell the 597 acres of land allotted to it between Noida and Greater Noida along the Taj Expressway.

On the charge that the state government had illegally waived the stamp duty for the project, Gaur said the Uttar Pradesh government has a policy of charging no stamp duty on all projects of over Rs 750 crore. "We have done eveything to ensure that all regulations were followed. The contract was awarded to us on the basis of a tender in which we as well as others participated. We being the lowest were selected.

All legal formalities relating to the tender were duly followed and complied with by our company," Gaur said adding: "Even if the Uttar Pardesh government calls for fresh bids for the project, we will get the money we have put in acquiring the land back."