The Supreme Court has upheld the National Company Law Appellate Tribunal (NCLAT) decision that allows NBCC to manage 16 projects belonging to Supertech. This judicial affirmation marks a significant development in the ongoing resolution of Supertech's troubled real estate portfolio.

Court Decision Details

The Supreme Court's ruling validates the NCLAT's earlier decision, providing legal certainty for NBCC's role in managing the specified Supertech projects. This decision reinforces the construction company's position in overseeing these real estate developments.

Implications for Project Management

The court's decision provides clarity on the management structure for these real estate projects. NBCC's involvement is expected to bring stability to the project execution and completion process. The judicial backing strengthens NBCC's mandate to oversee these developments.

Legal Framework

The Supreme Court's affirmation of the NCLAT decision establishes a clear legal framework for project management. This ruling eliminates potential legal uncertainties that could have affected the progress of these real estate projects. The decision provides a solid foundation for NBCC to proceed with its management responsibilities.

NBCC (India) Limited has received tax demand orders from Central Goods and Services Tax (CGST) authorities totaling ₹94.51 crore, including penalty and interest components. The Navratna CPSE disclosed this development under Regulation 30 of SEBI Listing Regulations on February 04, 2026.

Tax Demand Details

The company received orders from two separate CGST authorities between December 26-31, 2025. The demands comprise tax, penalty, and interest components under the Goods and Services Tax (CGST) Act, 2017.

Nature of Violations

The CGST authorities have raised demands on different grounds:

For Overseas Projects:

• Demands relate to two overseas projects executed by NBCC as Project Management Consultant (PMC)
• Both projects were completed in overseas countries and handed over to overseas recipients

For FY 2021-22 Operations:

• Input Tax Credit (ITC) apportionment issues under Rules 42 and 43 of CGST Rules
• Required reversal of proportionate ITC attributable to exempt supplies
• ITC reversal required for credits claimed from cancelled dealers, return defaulters, and tax non-payers

Company's Response

NBCC has indicated it is in the process of taking necessary steps to file appeals against both orders before the appropriate authorities. The company has stated that it does not anticipate any material impact on its financial, operational, or other business activities as a result of these demands.

Disclosure Timeline

The company received the CGST orders between December 26-31, 2025, and made the disclosure on February 04, 2026. NBCC explained that the delay was due to its internal governance framework requiring prima facie assessment of materiality, verification of tax components, examination of factual background, and consultation with tax advisors and functional departments.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided detailed information as required under Para A of Part A of Schedule III and confirmed that there has been no suppression, withholding, or omission of material information at any stage.