Innovatus Entertainment Networks Ltd held a board meeting on 8th July 2026 from 3:00 PM to 4:30 PM at its registered office. The board considered and approved three key agenda items.
1. Director Appointment
The board approved the appointment of Mr. Kanakanjan Nag (DIN: 11277391) as an Additional Director of the Company with effect from 8th July 2026. This appointment is to be regularized in the upcoming Annual General Meeting (AGM) or Extraordinary General Meeting (EGM).
2. GST Penalty Notice
The board received and reviewed Show Cause Notice (SCN) no. DGGI/INT/INTL/1506/2024-Gr C-01-O/o Pr ADG-DGGI-ZU-BENGALURU from the Directorate General of GST Intelligence (DGGI), Bangalore. The notice alleges violations under the Central Goods and Services Tax Act, 2017 and proposes penalties of:
- ₹7,89,97,205 under Section 122(1)(ii)
- ₹8,39,12,49 under Section 122(1)(vii)
Total proposed penalty: ₹15,29,09,754
The company believes the notice is incorrect and stated its intention to challenge the penalties with the adjudicating authorities.
3. Financial Results Postponement
The board postponed the approval of audited/unaudited Standalone and Consolidated Financial Results for the following periods due to preoccupation of the auditor:
- Half year and full year ended 31st March 2025
- Half year ended 30th September 2025
- Half year and full year ended 31st March 2026
A subsequent board meeting has been scheduled for 13th July 2026 to approve these financial results.
The disclosure was signed by Sanjay Dattaram Khanvilkar, Managing Director (DIN: 09746349), and submitted to BSE Limited for record.