GREATER NOIDA, Feb. 15 -- The Yamuna Expressway industrial development authority on Friday sealed Buddh International Circuit - India's first and only Formula One track - as the Jaypee Infratech Limited failed to clear financial dues. YEIDA officials also said that the authority has also started the process to issue a global tender to auction the property to recover its dues.

The action comes one and half months after the Yamuna Expressway authority had cancelled the lease deed of 1,000 hectares of land to Jaypee International Sports Company.

"A team of officials sealed multiple gates of the motor racing circuit as the developer has failed to clear financial dues. We have sealed the Formula One circuit so that the Jaypee Group does not us...