Action(s) taken or orders passed

The Hon’ble High Court of Telangana has ruled in favor of Viceroy Hotels Limited by setting aside a cross-subsidy surcharge demand notice amounting to Rs. 3.56 Crore for the financial years spanning 2005-06 to 2014-15. The court upheld that following the successful conclusion of the Corporate Insolvency Resolution Process, the company is entitled to immunity under Section 32A of the Insolvency and Bankruptcy Code, 2016. This judicial outcome brings a long-standing litigation to a final closure, eliminating a potential financial liability and providing significant regulatory relief to stakeholders.