Mahindra Holidays & Resorts India Limited has provided an update on material tax litigation through a regulatory disclosure filed with the National Stock Exchange of India Limited and BSE Limited.
The disclosure references the company's previous letter dated 14th August 2023 regarding the pendency of a Tax Case Appeal before the Hon'ble Madras High Court.
On 12th November 2026, the company received a favorable Order from the Hon'ble Madras High Court. The court accepted the accounting methodology followed by the company, specifically pertaining to deferring a portion of receipts over the period of the contract for Assessment Years 2006-07 and 2007-08.
As a direct result of this Order, the company's contingent liability has been reduced by Rs. 106 Crores.
The Order was received by the company on 12th November 2026 at 04:22 p.m. (IST).
The disclosure is made pursuant to Regulation 30 read with Clause 8 of Para B of Part A of Schedule III of the SEBI Listing Regulations and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January 2026 (as amended).
The intimation has also been disclosed on the company's website at https://www.clubmahindra.com/investors/stock-exchange-filing/investor-news.
Annexure Details
The annexure provides specific details as required under SEBI regulations:
- The development involves a change in status of proceedings with the Hon'ble Madras High Court accepting the company's accounting methodology
- The litigation does not involve key management personnel, promoters, or ultimate persons in control
- The proceedings have not been settled through any settlement agreement