Supreme Court to Review Rs.330 Bn Income Tax Claim on Jaypee Infratech

19 Apr 2024 CW Team

The Supreme Court has announced its decision to examine the validity of a staggering ?330 billion income tax claim on Jaypee Infratech. This move underscores the judicial scrutiny surrounding the financial affairs of the real estate company, which has been grappling with insolvency proceedings.

The apex court's decision to review the hefty income tax demand highlights the complexities and legal challenges faced by Jaypee Infratech amid its ongoing insolvency resolution process. The outcome of this review will have significant implications for the company's financial restructuring and its ability to emerge from insolvency.

The scrutiny of the income tax claim by the Supreme Court reflects the importance of upholding legal principles and ensuring fairness in taxation matters. The court's intervention is expected to provide clarity on the legitimacy of the tax demand and its impact on Jaypee Infratech's financial position.

The outcome of the Supreme Court's examination will also have broader implications for the real estate sector and the resolution of distressed assets. It will set a precedent for how income tax claims are treated in insolvency proceedings and influence the approach of stakeholders involved in similar cases.

As Jaypee Infratech navigates through the legal and financial complexities, the Supreme Court's review of the hefty income tax claim underscores the need for a balanced and equitable resolution that protects the interests of all parties involved. The outcome of this case will shape the future trajectory of the company and have ramifications for the broader real estate industry.

Infrastructure Energy

28 Aug 2025

REC Hosts 56th AGM, Highlights Record Growth and Sustainability

REC Limited conducted its 56th Annual General Meeting (AGM) today through video conferencing, chaired by Jitendra Srivastava, Chairman & Managing Director. The meeting highlighted the company’s record operational and financial performance during the year, along with its strong focus on sustainability and ESG-led initiatives.Jitendra Srivastava, Chairman & Managing Director, in his address noted that REC achieved significant milestones during the year, strengthening its position as a performance-driven public financial institution. Loan sanctions stood at Rs 3.37 trillion, with disbur..

ADGBR Reviews Road Projects under Project Vartak

Additional Director General Border Roads (ADGBR) Jitendra Prasad conducted a four-day review of ongoing road and bridge construction works under Project Vartak in the area of responsibility (AoR) of the 42 Border Roads Task Force (BRTF) from 19 to 22 August.Prasad inspected key infrastructure projects including the Balipara–Charduar–Tawang (BCT) road, Sela–Chabrela–Banga Janga Gonpa road, Banga Janga Gonpa–Lagamche GG road, the Sela tunnel, and multiple roads in the Nelya sector.At various construction sites, project officials briefed him on project scope, progress, timelines, and op..

Nitin Gadkari Launches Three Highway Projects in Madhya Pradesh

Union Minister for Road Transport and Highways, Nitin Gadkari, laid the foundation stone for three National Highway (NH) projects in Madhya Pradesh on 24 August. According to the Ministry of Road Transport and Highways (MoRTH), the projects are designed to reduce travel time, ease congestion, enhance road safety, and improve connectivity across key corridors.The first project covers the four-laning of the 17.87 km Amazhar–Barela stretch, completing the Jabalpur Ring Road. The upgrade will divert heavy vehicles away from the city, reduce accident risks, and ensure smoother connectivity from A..