The Economic Times

SC upholds cancellation of Piaggio's UP industrial plot lease, orders company to vacate land

The Supreme Court has upheld the cancellation of a 33-acre industrial plot in Greater Noida. Piaggio Vehicles Pvt. Ltd failed to utilize the land for a manufacturing unit as per lease conditions. The company did not commence construction or production within stipulated periods. The court found the company's conduct lackadaisical. Piaggio must hand over vacant possession within 30 days.