In a major relief to theatre chain Pyramid Saimira, the IT department has lifted the attachment of the bank accounts totalling Rs 245 crore of Chennai-based firm, following a Madras High Court order. Consequent upon the order of Madras High Court, “The attachment made on the bank accounts were lifted by the Income Tax (IT) Department, in respect of the overdraft facilities granted to Pyramid Saimira Theatre Ltd,” the company said in a filing to the Bombay Stock Exchange.
IT Department had attached Pyramid Saimira’s bank accounts totalling Rs 245 crore for alleged non-payment of tax.
