Telangana High Court sets aside Rs 3.56 crore demand notice in favour of Viceroy Hotels
VHLTD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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The Telangana High Court has set aside a Rs 3.56 crore cross-subsidy surcharge demand raised by Southern Power Distribution Company of Telangana for FY 2005-06 to 2014-15. The court ruled Viceroy Hotels is entitled to immunity under Section 32A of the IBC following successful CIRP completion and change in management in October 2023. Litigation is now finally concluded in the company's favour with no financial impact.
Positive: removes Rs 3.56 crore liability, ends long-standing litigation, reinforces Section 32A IBC immunity post-CIRP.