Lemon Tree Hotels Limited has informed the Exchange about Delay/default in the payment of fines/penalties/dues etc. to authority
LEMONTREE · price
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On the reaction day the stock moved 1.2 pts less than Nifty Smallcap 250 and 1.3 pts less than its Hotels & Resorts peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Lemon Tree Hotels has received two minor orders from government authorities. The Office of the Deputy Commissioner of State Tax (SGST), Gurugram (East) issued an order under Section 74 of the HGST/CGST Act, 2017 for Rs. 11,736 (including tax, interest, and penalty) related to short payment of service tax on abated value of service charges collected from customers for the period April 2018 to March 2019. Separately, the Municipal Corporation Chandigarh issued a challan of Rs. 5,000 as fine under the Solid Waste Management Rules for failure to handle construction and demolition waste properly. The total financial exposure from both orders is just Rs. 16,736, and the company has stated there is no material impact on its financial operations beyond these amounts.
The combined financial impact is negligible (under Rs. 17,000) and these are routine regulatory compliance matters. No material effect on shareholders or stock price is expected.