General Update on the brief description of the disclosure in relation to Demand Order received u 73 of the…
As filed · Samhi Hotels Limited has informed the Exchange about General Update on the brief description of the disclosure in relation to Demand Order received u/s 73 of the SGST Act, 2017 for payment of Tax by t
What happened
FactSAMHI Hotels Ltd. disclosed that its subsidiary, Barque Hotels Private Limited, received a demand order for payment of tax amounting to INR 1,79,31,654 under the Maharashtra Goods and Services Tax Act, 2017, for the period 2020-21. The order was received on March 3, 2025, and relates to excess outward GST liability and a mismatch of ITC claimed. The subsidiary believes it has a strong case and is pursuing legal remedies.
Why it matters
CapitSignal interpretationA tax demand is a contingent claim on cash: it either becomes a payment, or an appeal that ties up management attention and often a deposit.
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Capex
WithdrawnWe do expect about INR 175 crores to INR 200 crores of capital expenditure during the fiscal year FY 26.
The ballroom renovation actually is a low capex, its about INRS crores between the two renovations.
Change
FactImplication
CapitSignal interpretationWatch next
Fact- Whether the company is appealing
- Amount deposited pending appeal
- Whether it is provided for in the accounts
- So we expect that by the same time next year, we would have the hotel fully renovated and rebranded to Courtya (management committed by FY27)
- we had promised that we will go to 3.5x by end of FY 25, and we had given an eventual target of 2.5x being a h (management committed by FY25)
Evidence
- Samhi Hotels Limited has informed the Exchange about General Update on the brief description of the disclosure in relation to Demand Order received u/s 73 of the SGST Act, 2017 for payment of Tax by the Company s subsidiary, Barque Hotels Private Limited ( Subsidiary )(opens the original filing in a new tab)
- Earlier statement · Q4 FY25
- Latest statement · Q4 FY25
How CapitSignal classified this
- Reasoning:
- TAX_DEMAND base 62; +5 quantified amount; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%