Lemon Tree Hotels Limited — Important, 28-02-2025: General Updates

M/s Fleur Hotels Limited, a subsidiary of Lemon Tree Hotels, has received a notice from the Office of the Deputy Commissioner (Audit), State Tax, Dehradun, regarding a demand for tax, interest, and penalty amounting to ₹2.18 lakh (Cr 2.18) for the financial year 2020-21. This demand stems from alleged excess Input Tax Credit claimed and short payment of tax, resulting in a tax demand of ₹2.18 lakh (Cr 2.18) plus a penalty of ₹30,000. However, the company has indicated that this issue will not materially impact its financials or operations. It is advisable for investors to monitor this development closely, though the reported impact appears manageable.