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Note: These are AI-generated, educational summaries of public NSE
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Verify against the original filing and consult a SEBI-registered adviser before acting.
22 announcements match the current filters (relevance ≥ 5).
RPP Infra faces IT prosecution sanction for ₹1.92 Cr TDS delay; files for compounding
R.P.P. Infra Projects has received a sanction for prosecution from the Income Tax Department for delaying the deposit of Tax Deducted at Source (TDS) totaling ₹1.92 crore during FY 2022-23. The delay in remittance ranged from 2 to 10 months, leading to legal action against the company, its Managing Director, and its CFO. Although the company has already paid the full TDS amount plus interest, it has now applied for compounding to settle the matter and avoid further prosecution. No immediate monetary penalty has been imposed, but the outcome of the compounding process is pending.
Key Highlights
Sanction for prosecution issued under Section 279(1) of the Income Tax Act for a TDS default of ₹1,91,82,542.
The delay in depositing the tax to the Central Government ranged between 2 and 10 months for FY 2022-23.
Prosecution proceedings target the Company, MD Shri P. Arul Sundaram, and CFO Smt. Nithya Arulsundaram.
The company has already remitted the entire TDS amount and applicable interest to the authorities.
Compounding proceedings have been initiated to resolve the legal dispute and mitigate financial impact.
👀 What to Watch
Investors should monitor the progress of the compounding application as it will determine the final settlement cost. While the tax liability is cleared, the initiation of prosecution against top management is a governance concern.
RPPINFRA bags new order worth ₹25.99 Crores
R.P.P. Infra Projects Limited has received a new work order for widening a road from Two Lane to Four Lane. The project, concerning Hogenakkal- Pennagaram- Dharmapuri- Thirupathur Road (SH-60), is valued at ₹25.99 Crores (including GST). The order was received from the Office of superintending Engineer[Highways) Construction and Maintenance, Tiruvannamalai, circle Tamilnadu. The project is expected to be executed within 12 months.
Key Highlights
New order worth ₹25.99 Crores
Project involves widening to Four Lane of Hogenakkal- Pennagaram- Dharmapuri- Thirupathur Road (SH-60)
Project to be executed within 12 months
Online EMD: Rs.1337000/-
👀 What to Watch
This new order is a positive sign for RPPINFRA. Investors should monitor the company's progress on this project and its impact on future revenue.
