The Indian Hotels Company Limited (IHCL) has disclosed that it has received claims for penalties on outstanding property taxes from the Brihanmumbai Municipal Corporation (BMC) totaling ₹5.09 crore for the fiscal year 2025-26. The penalties are related to properties including Taj Wellington Mews, Taj Mahal Hotel (Old Wing), and Taj Mahal Tower (New Wing).
| Property | Amount (₹) |
|---|---|
| Taj Wellington Mews | 1,89,28,319 |
| Taj Mahal Hotel (Old Wing) | 21,93,702 |
| Taj Mahal Tower (New Wing) | 2,97,95,437 |
| Total | 5,09,17,458 |
Details of the Claim
The penalty claims, reflected in the property tax bills for 2025-26, were received along with Special Notices from the BMC on July 23, 2025. The total claim amounts to ₹5,09,17,458.
Company's Stand
IHCL has stated that it disputes the claim of the penalty on merit, as the payment of property taxes has been made in accordance with the orders of the Hon'ble Supreme Court and the Hon'ble High Court.
Financial and Operational Impact
The company clarified that the financial impact, if any, will be limited to the extent disclosed in the penalty claim. IHCL anticipates no impact on the company's operations or other activities as a result of this matter.
Regulatory Disclosure
This disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
