Sky Gate Hospitality Tax Demand ₹59.52 Mn

Devyani International's wholly-owned subsidiary Sky Gate Hospitality received an income tax demand order of INR 59.52 Million.
The demand under Section 143(3) of the Income-tax Act, 1961 relates to alleged excess share premium during FY2023-24.
The company states no material financial or operational impact; Sky Gate is evaluating the order and may file an appeal.