Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015 with respect to an order passed by the Commissioner, Indore Municipal Corporation
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Sayaji Hotels (Indore) Ltd has received an order from the Commissioner of the Indore Municipal Corporation (IMC) dated March 6, 2026, which was received by the company on March 16, 2026. The order pertains to property tax assessment under the Madhya Pradesh Municipal Corporation Act, 1956, and imposes a penalty of ₹32.70 lakh (₹32,69,780) on the company. The company has stated it will take necessary legal action to contest this order. Further developments will be communicated to the stock exchange as required.
The penalty of ₹32.70 lakh is a relatively small amount for the company and is unlikely to materially affect financials or operations, but the stock may see minor negative sentiment. Investors should watch for updates on the company's legal challenge against this order.