case₹0.6 Crpage 433
Income Tax demand on Company of Rs 61.86 lakhs for AY 2023-24; appeal filed before CIT(A) on Feb 12, 2024
4 days leftMainboardConstruction - Real EstateVEEGALAND
Veegaland Developers IPO
Veegaland Developers IPO is a mainboard IPO raising ₹210 Cr at ₹130 – ₹140 a share. The smallest application you can make is 107 shares, costing ₹14,980 at the top of the band. Bidding closes on 15 Sept 2026 and the shares list on 18 Sept 2026. So far it has been subscribed 1.15× in total.
₹130 – ₹140
Price band
₹14,980
Minimum to apply (107 shares)
₹210 Cr
Issue size
15 Sept 2026
Bidding closes
1.15×Subscribed · all exchanges
Just covered — bids slightly exceed the shares on offer
populated partly populated we hold nothing here — the tab says why
What’s in court
The issuer’s own summary of outstanding legal proceedings — SEBI requires this table in every prospectus. Counts and amounts are as disclosed; the disclosed aggregate at stake is ₹0.7 Cr.
| Against | Criminal | Tax | Other material | Amount at stake |
|---|---|---|---|---|
| The company | 0 | 1 | 3 | ₹0.6 Cr |
| Directors | 0 | 0 | 1 | — |
| Promoters | 2 | 2 | 0 | ₹0.1 Cr |
casepage 432
Vega Industries Pvt Ltd v. Veegaland Developers – Trademark Opposition No. 3545433 ('VEEGALAND' device) pending before Trade Marks Registry
casepage 432
Veegaland Developers v. State of Kerala & Thrikkakara Municipality – WP(C) 6692/2025 before Kerala HC challenging property tax demand on car parking area
casepage 433
Veegaland Developers v. Union of India & Ors – WP(C) 27255/2025 before Kerala HC challenging EPF liability on construction workers covered under BOCW Act
casepage 435
S. Aswakumar v. Kochouseph Chittilappilly – Criminal Contempt Case No. 2/2019 before Kerala HC (sanctioned by Advocate General on June 25, 2019) for alleged contempt by open letter to Chief Justice
Amounts originally stated in Rs lakhs; converted to crore at 1 crore = 100 lakh. Company tax bucket: 1 direct tax case (Rs 61.86 lakh). Promoters tax bucket: 2 direct tax cases aggregating Rs 12.39 lakh (Rs 1,06,490 for AY 2023 + Rs 11,32,579 for AY 2023 per prospectus). Promoters criminal bucket: 1 case against (Contempt) + 1 case filed by (Section 138 NI Act cheque dishonour of Rs 25 lakh). Company 'other' bucket includes 1 trademark opposition filed against the Company and 2 writ petitions filed by the Company. Directors 'other' bucket: 1 civil suit (right of way/easement) against directors. Group Company (K Chittilappilly Foundation): no pending material litigation disclosed. No subsidiaries disclosed. Total amount (Rs 0.7425 crore) = sum of stated tax aggregates; no grand total explicitly stated in the document.. Outstanding means unresolved — a listed case is an exposure, not a verdict.
Source documents
What the issuer and the exchanges published. Everything else on this tab is read out of these.
Prospectus on SEBI ↗
The full prospectus — business, financials, risk factors and litigation.
Anchor investor allocation ↗
Which institutions were allotted shares before bidding opened, and how many.
Bidding centres ↗
Where physical applications could be submitted.
Basis of issue price (peer ratios) ↗
The issuer's own "basis of issue price": the earnings multiples it is asking for, and the peer companies it chose to compare itself against.
Red Herring Prospectus ↗
The full prospectus — business, financials, risk factors and litigation.