Legal17 Mar 2026, 07:02 pm
Sayaji Hotels Faces Property Tax Penalty of 332,69,780 from Indore Municipal Corporation
AI Summary
Sayaji Hotels (Indore) Ltd has received an order from the Commissioner, Indore Municipal Corporation (IMC) imposing a penalty of 332,69,780 under the provisions of the Madhya Pradesh Municipal Corporation Act, 1956. The order pertains to the assessment of property tax. The company will take necessary legal action against the order and keep the Stock Exchange informed of any further developments.
Key Highlights
- Sayaji Hotels (Indore) Ltd has received a penalty order from the Indore Municipal Corporation
- The penalty is imposed under the Madhya Pradesh Municipal Corporation Act, 1956
- The total penalty amount is 332,69,780
- The company will take legal action against the order
- The company will keep the Stock Exchange informed of any further developments