Board Meeting9 Jul 2026, 07:40 pm
Innovatus Entertainment Networks Appoints Additional Director, Faces ₹7.9 Cr Penalty Notice
AI Summary
Innovatus Entertainment Networks Ltd held a board meeting on July 8, 2026, appointing Mr. Kanakanjan Nag as an Additional Director, effective the same date. The board also reviewed a show-cause notice from DGGI Bangalore, proposing a penalty of INR 7,89,97,205 under CGST Act, 2017, which the company intends to challenge. Additionally, the approval of audited/unaudited financial results for various periods ending March 31, 2025, and March 31, 2026, has been postponed due to auditor preoccupation. A new board meeting is scheduled for July 13, 2026, to approve these results.
Key Highlights
- Mr. Kanakanjan Nag appointed as Additional Director.
- Company received a penalty notice of ₹7.9 Cr from DGGI.
- Financial results approval postponed to July 13, 2026.
- Company plans to challenge the penalty notice.
- Auditor's preoccupation caused the results postponement.
Price Impact
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