Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
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Sayaji Hotels (Pune) Ltd has received two assessment orders dated 15 April 2025 from the Pimpri Chinchwad Municipal Corporation (PCMC), Pune. The orders raise a tax demand of Rs. 1.70 crore along with interest and penalty of Rs. 46.90 lakh, totalling about Rs. 2.18 crore. The allegation is that the company underpaid its actual tax liability to the municipal body. The orders were received by the company on 17 April 2025. The company has stated that there is no material impact on its financials, operations, or other activities from these orders.
This is a municipal property/business tax dispute worth roughly Rs. 2.18 crore. While the company claims no material impact, shareholders should monitor whether the company decides to contest or pay the demand, as an adverse outcome could affect earnings.