Raymond Lifestyle Limited — Important, 18-04-2025: General Updates

The company has received demand notices from the Income Tax authorities related to several assessment years. Silver Spark Apparel Limited, a subsidiary, and JK Investors (Bombay) Limited, a promoter group entity, received demands totaling approximately ₹4.24 Cr and ₹0.62 Cr, respectively. The company clarified that the underlying assets, along with all associated liabilities, were sold to JKIB, ensuring no financial impact on the company or its subsidiaries. Both Silver Spark and JKIB believe they have sufficient grounds to contest these demands and are in the process of filing appeals with the Commissioner of Income Tax (Appeals). Given this situation, investors can steer clear of concern regarding immediate financial repercussions, maintaining a positive outlook on the company’s stability.