TAJ GVK Hotels & Resorts Limited has received demand notices from the Assistant Commissioner (ST), Khairatabad-Somajiguda-1 circle, following the dismissal of its appeals by the Telangana VAT Appellate Tribunal. The company disclosed this development under Regulation 30 of SEBI Listing Regulations on February 23, 2026.

Tribunal Dismisses Company Appeals

The Telangana VAT Appellate Tribunal dismissed both appeals filed by the company against revision orders passed by the Deputy Commissioner (CT), Punjagutta Division dated July 11, 2014. These orders pertained to VAT demands for the financial year 2008-09 related to differential VAT on account of hiring banquet equipment.

Outstanding VAT Demands

The demand notices cover liabilities for two hotel properties:

The company had previously deposited 50% of the demanded amounts at the time of filing the appeals, as required under the regulations.

Regulatory Details

Company's Assessment

TAJ GVK Hotels & Resorts stated that there will be no impact on the operations or other activities of the company, with the liability limited to the extent of the above-mentioned demand amounts. The company confirmed that the financial impact is quantifiable and restricted to the outstanding VAT obligations.

Next Steps

The Assistant Commissioner (ST) has directed the company to pay the outstanding arrears within seven days from receipt of the demand notices. Failure to comply within the stipulated timeframe will result in further recovery action being initiated under the act without additional notice. The company must now decide whether to settle the demands or explore further legal remedies available under the tax laws.

TAJ GVK Hotels & Resorts Limited has announced a strategic acquisition that will strengthen its position in the hospitality sector. The company's Board of Directors approved the purchase of an additional 2.01% equity stake in Green Woods Palaces and Resorts Private Limited during a meeting held on 9th February, 2026.

Acquisition Details

The transaction involves the purchase of 15,05,100 equity shares of Rs.10 each at a premium of Rs.96.91 per share from Greenridge Hotels & Resorts LLP, the joint venture partner. The acquisition parameters are outlined below:

Shareholding Changes

This acquisition will significantly alter TAJ GVK's ownership structure in Green Woods Palaces and Resorts Private Limited. The shareholding transition will convert the joint venture company into a subsidiary:

Target Company Profile

Green Woods Palaces and Resorts Private Limited operates the Taj Santacruz hotel in Mumbai and has demonstrated strong financial performance. The company was incorporated on 04.05.2001 and operates exclusively in India's hospitality sector.

Financial Performance

Three-Year Revenue Trend

Transaction Structure

The acquisition is structured as a cash transaction conducted on an arm's length basis. The share valuation was performed by an Independent Valuer registered with the Insolvency and Bankruptcy Board of India (IBBI), New Delhi. As Green Woods Palaces is already a joint venture company, this transaction qualifies as a related party transaction under the Companies Act, 2013.

Strategic Impact

The acquisition aligns with TAJ GVK's core hospitality business and will provide greater operational control over the Taj Santacruz hotel operations. With majority shareholding secured, the company can implement strategic decisions more effectively while benefiting from the target company's consistent revenue growth trajectory. No governmental or regulatory approvals are required for completing this transaction.