A demand to extinguish income-tax liability of Rs 33,000 crore might make state-owned infrastructure major NBCC's bid for the beleaguered Jaypee Infratech's (JIL's) projects a tough call.
The committee of creditors (CoC) of the debt-ridden developer will meet on May 9 to discuss NBCC's revised bid. According to the revised resolution plan, NBCC has demanded that the income-tax liabilities should be extinguished. "On account of land parcels from Yamuna Expressway Industrial Development Authority (YEIDA) to JIL in terms of concession agreement, the income-tax ...
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