Devyani International Subsidiary Receives Income Tax Demand Order
Devyani International's subsidiary, Sky Gate Hospitality, received an Income Tax Demand Order for INR 59.52 Million (₹5.95 Crore) for alleged excess premium on share issuance. The company stated there is no material impact and plans to file an appeal.
The company has clearly stated that there is no material impact on its financial, operational, or other activities due to the demand order. The amount is also relatively small in the context of the overall company's operations.
The announcement reports a demand order from the Income Tax Department, which could be perceived negatively. However, the company has explicitly stated that there is no material impact and they intend to appeal, mitigating the immediate negative sentiment.
Devyani International Limited announced on March 25, 2026, that its wholly-owned subsidiary, Sky Gate Hospitality Private Limited, has received a Demand Order from the Income Tax Department. This order pertains to Assessment Year 2024-25, under Section 143(3) of the Income-tax Act, 1961, concerning alleged excess premium on share issuance by Sky Gate during the financial year 2023-24. The total demand is INR 59.52 Million (₹5.95 Crore).
Sky Gate is currently evaluating the order and plans to take necessary steps, including filing an appeal with the relevant forum. The company has stated that there is no material impact on its financial, operational, or other activities as a result of this order.
What to do with a filing like this
Devyani International Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Devyani International Limited. Read the original for the full detail.