Devyani International Limited has informed the Exchange about Action(s) taken or orders passed
DEVYANI · price
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Devyani International's wholly-owned subsidiary Sky Gate Hospitality has received a demand order from the Income Tax Department for Assessment Year 2024-25. The demand of around ₹5.95 crore (INR 59.52 million) relates to alleged excess premium on shares issued by Sky Gate during FY 2023-24. Sky Gate is evaluating the order and intends to file an appeal before the appropriate authority. The company has stated that this order has no material impact on its financials, operations, or other activities.
The financial impact is described as immaterial by the company, and shareholders are unlikely to see a meaningful effect on the stock. However, the matter remains open and an unfavorable appeal outcome could create a small future liability for the subsidiary.