Swiggy Limited — Important, 27-03-2025: General Updates

Swiggy Limited has received a tax demand order from the Income Tax Department for INR 56.96 Cr plus interest of INR 41.58 Cr, relating to the period from April 2018 to March 2019. The order pertains to alleged non-deduction of tax on cancellation charges paid to merchants. The company plans to appeal the decision, asserting strong grounds for its position. This matter appears unlikely to significantly impact Swiggy's overall financial health or operations, providing a potentially positive outlook for investors amid ongoing challenges.