Mahindra Holidays & Resorts India Limited has informed the Exchange about Disclosure under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 Details of material litigation
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Mahindra Holidays & Resorts India has received a Show Cause Notice (SCN) dated July 25, 2025, from the State Tax Officer in Chennai. The tax demand is approximately Rs. 33.29 crores (including interest and penalty) for FY 2021-22 under the Tamil Nadu GST Act, 2017 and CGST Act, 2017. The dispute involves alleged discrepancies in turnover adjustments, supply differences, trade payables, and asset additions/disposals. The company has stated that, based on its internal assessment and the advice of legal counsel, it does not expect this notice to have any material financial impact. It will pursue legal remedies before the appropriate authority.
The company views the demand as not materially impactful and plans to contest it, so near-term stock impact should be limited. However, if the dispute goes against the company, the Rs. 33.29 crore demand could become a future financial liability worth monitoring.