Fortis Healthcare Limited has announced that its indirect wholly-owned subsidiary, International Hospital Limited (IHL), has received an income tax demand order totaling ₹76.19 crore for the Assessment Year 2019-20. The demand was issued under Sections 147/143(3)/144C read with Section 144B of the Income Tax Act, 1961. The company disclosed the development via a regulatory filing on April 3, 2025, at 9:31 a.m.
According to the filing, the tax demand arises due to the disallowance of interest expenses claimed by IHL. However, Fortis has stated that, based on IHL’s current assessment, the demand is not expected to have any material impact on the company’s financials, operations, or other activities. IHL is currently evaluating all available legal options, including filing an appeal against the order.
Fortis shares may remain in focus following this development as investors monitor any further regulatory or financial implications. The company emphasized that this disclosure is in compliance with Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements.
Stay tuned for updates as Fortis assesses the situation and considers its next steps.
