Devyani International has informed that Sky Gate Hospitality (‘Sky Gate’), a wholly-owned subsidiary of the Company, was in receipt of a Demand Order from Income tax Department under section 143(3) of Income-tax Act, 1961 for the Assessment Year 2024- 25. The demand, amounting to INR 59.52 million, pertained to the alleged excess premium on issuance of shares by Sky Gate during the financial year 2023-24. Now, in continuation to the above intimation, they informed that Sky Gate had filed rectification application before the Income Tax Authority u/s 154 of the Income Tax Act, 1961. Pursuant to this, Sky Gate has now received intimation that the Deputy Commissioner of Income Tax vide a Rectification Order dated June 9, 2026 [received on June 10, 2026] has accepted the submissions made by Sky Gate and accordingly quashed the Demand Order. The detailed disclosure as required under Regulation 30 of the SEBI Listing Regulations read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 has already been submitted vide our earlier intimation dated March 25, 2026.
The above information is a part of company’s filings submitted to BSE.
