Velan Hotels Ltd — Important, 06-03-2026: Company Update

The Madras High Court has addressed the company's petition regarding the demand for Entry Tax, penalty, and interest on an Audi Car imported in 2006. The court has granted the company liberty to file an appeal before the Appellate Authority within 30 days. Crucially, the recovery of the demanded amount will be kept in abeyance for 60 days, during which the company must secure an appropriate order from the Appellate Authority for a further stay. This development offers a temporary deferral of the potential financial liability, allowing the company time to pursue further legal recourse.