Took sometime but eventually resolved it.
I followed the instructions to install jpy from Jpy Site after installing the pre-requisites and setting the new environment variables.
In my case the pre-requisites were:
* Python 3.3 or higher (3.2 may work as well but is not tested)
* Oracle JDK 7 or higher (JDK 6 may work as well)
* Maven 3 or higher
* Microsoft Windows SDK 7.1 or higher
I was having problems setting up the env variables as per instructions (by cmd) so ended up doing it from the Advanced System Settings - Form directly.
I hope this can be useful for others having similar problems