Tax & Penalty27 Oct 2026, 05:22 pm
Avenue Supermarts Fined ₹55.75 Lakhs by Gujarat Authority
AI Summary
Avenue Supermarts Ltd has been penalized ₹55.75 lakhs by the Gujarat International Finance Tec-City Company Limited. The penalty was imposed for non-compliance with the prescribed project completion timeline. The company stated that the financial impact is limited to the penalty amount and there is no material impact on its operations or other activities. The penalty was levied on October 26th, 2026.
Key Highlights
- Penalty of ₹55.75 lakhs imposed on Avenue Supermarts.
- Reason for penalty: Non-compliance with project completion timeline.
- No material impact on company operations.
- Financial impact limited to penalty amount.
Price Impact
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