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Supreme Court clears way for Indian GP 2011

Zeenews Sports Bureau

New Delhi: The Supreme Court today, Friday, cleared decks for Indian GP F1 race in Greater Noida, directing Organisers directed to deposit 25 per cent of sale proceeds from tickets in separate accounts.

Taking up a Public Interest Litigation (PIL) that subjected to Uttar Pradesh government's intentions in giving an entertainment tax waiver to the race organisers, Jaypee Group, for organizing the Formula One race in Greater Noida, the Supreme Court gave its decision.

The apex court had slapped a notice on the UP government on Tuesday over the exemption of tax at the Buddh International Circuit on its media unveiling day.

A bench headed by Justice D K Jain also issued notice to Jaypee Group, organiser of the sporting event, and asked them to file their response by Friday on why the event was given exemption from entertainment tax.

India's first Formula 1 event is scheduled to be held in Greater Noida, adjacent to the national capital, on October 30.

From Zee News

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