Innovision Limited has secured a three-month extension from the Registrar of Companies (ROC), Delhi, to convene its Annual General Meeting (AGM) for FY26. The approval allows the company to hold the meeting beyond the statutory deadline of September 30, 2026.

The Board of Directors passed a resolution by circulation on September 8, 2026, to apply for the time limit extension. The company submitted the application to the ROC Delhi with Service Request Number (SRN) AC5894200.

Regulatory Approval Details

The ROC Delhi granted the extension vide an approval letter dated September 16, 2026, which the company received on September 18, 2026. The order was issued under Section 96(1) of the Companies Act, 2013, read with the second proviso attached thereto.

The Registrar noted that the company had faced difficulties preventing it from holding the AGM on time. While granting the relief, the ROC advised Innovision to ensure timely compliance with provisions related to holding AGMs in the future.

Compliance Framework

The intimation was issued pursuant to Regulation 30 of the SEBI (LODR) Regulations, 2015. Jyoti Sachdeva, Company Secretary and Compliance Officer of Innovision Limited, signed the disclosure dated September 19, 2026.

The company will intimate the specific date for the FY26 AGM in due course within the extended timeline.

Innovision Limited faces a financial hit after the National Highways Authority of India (NHAI) approved the forfeiture of ₹1.60 crore in performance security and imposed a ₹3.60 lakh penalty.

The order, received on September 10, 2026, stems from a forensic audit that identified excess user fee collection through Electronic Toll Collection (ETC) systems at the company’s Diengpasoh Fee Plaza in Meghalaya.

Regulatory Action Details

The NHAI invoked Clause 18(a) of the contract agreement dated June 10, 2022. This clause mandates the forfeiture of part of the performance security—equivalent to 15 days’ agreed remittance—after three incidents of penalty for excess charging are recorded.

The specific violation cited involves an alleged excess charge of ₹240 across eight FASTag transactions on September 3, 2022. This incident was the third such instance, triggering the contractual penalty mechanism.

Financial and Operational Impact

The forfeited amount relates to the user fee collection agency engagement at the Shillong Bypass connecting NH-40 and NH-44. Since the specific performance security is not currently available with the Regional Office in Guwahati for adjustment, NHAI has reserved the right to recover the funds from other ongoing contracts or the Common Bank Guarantee held with NHAI headquarters.

Legal Response

Innovision plans to file a Writ Petition before the appropriate court to challenge the forfeiture order. The company aims to seek relief in accordance with applicable laws while keeping stock exchanges informed of further developments.