Devyani International Receives Demand Order from Income Tax Department
Devyani International Limited announced today, March 26, 2026, that its wholly-owned subsidiary, Sky Gate Hospitality Private Limited, has received a Demand Order from the Income Tax Department. The order, received March 25, 2026, pertains to the Assessment Year 2024-25 and relates to an alleged excess premium on the issuance of shares by Sky Gate during the financial year 2023-24.The total demand outlined in the order is INR 59.52 million.According to Devyani International, the Demand Order is not expected to have a material impact on the company's financial, operational, or other activities. Sky Gate is currently evaluating the order and intends to take...