Mahindra Holidays & Resorts India Limited — Others, 01-03-2025: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

Mahindra Holidays & Resorts India Limited has announced a board meeting regarding a demand order received from the Commercial Tax Officer in Chennai, requiring the company to pay ₹17.59 crore, which includes interest and penalties. This order relates to FY 2020-21 and is based on discrepancies in turnover and input tax credit. The company plans to appeal against this decision. While the situation poses a potential challenge, management believes it will not materially impact financial performance. Investors might view this as a manageable risk, reinforcing a cautious outlook.