CL Educate Receives ₹4.85 Cr Income Tax Demand

CL Educate received an income tax demand order of ₹4,85,32,252 under Section 201(1)/201(1A) for FY 2019-20.
The demand comprises ₹2,63,11,418 under Section 201(1) and ₹2,22,20,834 as interest under Section 201(1A) for alleged TDS defaults.
The company plans to appeal before the appropriate appellate authority and expects no material adverse impact on operations.