Jaypee Group said it would abide by the court order,
Liberty Shoes | Merck | Rallis India | Dewan Housing Finance | Orbit Corporation | Karnataka Bank | JK Lakshmi Cement | Radico Khaitan | Clariant Chemicals | Idea Cellular | TCS | NHPC | Tata Steel and Jet Airways are stocks, which are in the news today.
The state government has told the Supreme Court that it will withdraw the tax exemption retrospectively. But Jaypee Sports has argued against the move saying the state government can take such action only prospectively.
CNBC-TV18's Aastha Maheshwari reports that with a few months go before the Indian Grand Prix flags off, Formula One's India franchisee has sought tax clarity on various aspects of its business from the AAR.
Formula One boss Bernie Ecclestone has announced that it was not possible to accommodate the Indian F1 circuit in the racing calendar in 2014. Sameer Gaur, MD & CEO, Jaypee Sports told CNBC-TV18 that it has 5-year contract with Formula 1 and will organize 5 races.