Innovision Limited has formally notified stock exchanges about an upcoming board meeting to review its quarterly financial performance, marking a key milestone in the company's regulatory compliance schedule.

Board Meeting Details

The company has scheduled a board of directors meeting for Monday, April 13, 2026, in compliance with Regulation 29 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The meeting agenda includes specific items related to financial reporting and corporate governance.

Key Agenda Items

The board will primarily focus on two main areas during the scheduled meeting. The directors will consider and approve the unaudited standalone and consolidated financial results for the third quarter and nine months ended December 31, 2026, along with the Limited Review Report from statutory auditors. Additionally, the meeting will address any other matters that may require board attention.

Trading Window Restrictions

In accordance with regulatory requirements, Innovision Limited has implemented trading restrictions for designated persons. The trading window for dealing in company securities has been closed for designated persons and their immediate relatives since March 23, 2026, which coincides with the company's listing date.

Regulatory Compliance

The announcement demonstrates the company's adherence to multiple regulatory frameworks. The notification complies with SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015, and follows the company's Code of Conduct alongside SEBI (Prohibition of Insider Trading) Regulations, 2015. The company has made this intimation available on its official website and has formally notified both BSE Limited and National Stock Exchange of India Limited about the scheduled meeting.

Innovision Limited has received a significant tax demand from the Central Board of Indirect Taxes and Customs (CBIC) totaling Rs 20,98,11,480 for financial years 2019-20 and 2023-24. The company disclosed this development through a regulatory filing under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Order Details and Timeline

The Additional Commissioner, CBIC, Jurisdiction – Dehradun, Meerut, issued the order dated March 20, 2026, which the company received on March 30, 2026. The order was passed under Section 74 of the Central Goods and Services Tax Act, 2017 (CGST Act) and UKGST Act, arising from disputes raised by the GST department regarding the company's filed GSTR returns for the relevant periods.

Financial Breakdown by Year

The total demand is split across two financial years with varying components:

Company's Response and Assessment

Innovision Limited is currently evaluating the order and has announced its intention to challenge both the proposed demand and penalty before the appropriate authority. The company's management has expressed confidence in their position, stating that based on their assessment, the demand is not sustainable.

Impact on Operations

The company has indicated that it believes the GST demand will not have any material impact on its financial position, operations, or other activities. This assessment suggests that Innovision Limited views the order as contestable and expects a favorable outcome through the appeals process.

Regulatory Compliance

The disclosure was made in compliance with SEBI regulations, specifically Clause 20 of Para A of Part A of Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company also referenced relevant SEBI circulars dated July 13, 2023, and November 11, 2024, ensuring full regulatory compliance in their announcement.

The matter represents a significant regulatory challenge for Innovision Limited, though the company's stated confidence in challenging the demand suggests they believe they have grounds for a successful appeal against the CBIC order.