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Godrej Landmark Redevelopers, now merged with Godrej Projects Development, a subsidiary of Godrej Properties, has been served with a GST demand order totalling Rs. 258.78 crore. This demand, accompanied by an equal interest and penalty of Rs. 129.39 crore each, is linked to an alleged failure to pay GST associated with a project developed by GLRPL in Mumbai. The company, under the banner of GPDL, has affirmed its intent to contest this order within the boundaries of the law.
Godrej emphasises that this matter will not significantly impact the company's financial or operational activities. GPDL is optimistic about a favourable outcome from the appellate authority, citing current legal standings and precedents in their regulatory filing.
In a parallel development, another subsidiary, Godrej Redevelopers (Mumbai) (GRMPL), recently encountered a similar situation. They received a GST demand order of Rs. 48.31 crore, along with corresponding interest and penalty charges, all stemming from alleged GST non-payment regarding a project in Mumbai. This situation demonstrates potential legal challenges across multiple entities under the Godrej umbrella.
Adding to their legal entanglements, the City and Industrial Development Corporation (CIDCO) revoked the allotment of two adjacent plots located in Sampada, Navi Mumbai, to Godrej Properties. In response, the company initiated legal action by filing a writ petition with the Bombay High Court. Their expectations of a favourable outcome remain buoyed by their assessment of current legal positions.
The situation represents a complex legal challenge for Godrej and its subsidiary companies, involving substantial financial implications and potential impacts on their real estate development plans. Their efforts to seek a favourable resolution through legal channels underscore their commitment to defending their interests in these matters. However, Godrej will have to review its processes so that such problems do not arise in the future again.
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