TV Vision Limited has received a petition from UCN Cable Network Private Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, alleging an outstanding amount of ₹5,16,69,147.65. The operational creditor initiated this action, which the company disclosed may have a material impact on its operations and financial position. The intimation was submitted to the exchanges on June 05, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

The petition claims a default of ₹5.16 crore, specifically ₹5,16,69,147.65. TV Vision stated that the receipt of the petition copy is a material event requiring disclosure. The company has committed to keeping stakeholders informed about any further material developments regarding this legal proceeding.

The filing was signed by Ravi Gautam Adhikari, Chairman & Managing Director of TV Vision Limited. The company confirmed that the matter pertains to a dispute with an operational creditor and that it will monitor the situation closely for any subsequent impact on its financial standing.

TV Vision Limited reported a widened net loss of ₹34.47 crore for the financial year ended March 31, 2026, compared to a net loss of ₹26.69 crore in the previous year. Revenue from operations for the year declined significantly to ₹14.15 crore from ₹53.24 crore in FY25. The standalone loss for the quarter ended March 31, 2026, stood at ₹13.35 crore. The Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a meeting held on May 27, 2026, pursuant to Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Highlights

The company's financial performance for the year reflects continued operational challenges. Total expenditure for FY26 stood at ₹48.64 crore, exceeding the total income of ₹14.16 crore. Depreciation and amortization expenses for the year were ₹14.74 crore, while finance costs amounted to ₹0.34 crore.

Auditor's Observations

Statutory auditors P. Parikh & Associates issued a qualified opinion on the financial results. The report highlighted a material uncertainty relating to the company's status as a going concern, citing factors such as the initiation of Corporate Insolvency Resolution Process (CIRP) by secured lender Punjab National Bank (PNB), recall of loans, and negative total equity of ₹14,425.49 lakh as on March 31, 2026.

The auditors noted that PNB claimed an outstanding amount of ₹294.43 crore as of December 31, 2025, whereas the company's books showed ₹98.94 crore. The difference of ₹195.50 crore primarily represents interest not recognized by the company, leading to an understatement of finance costs by at least ₹26.16 crore for the year. Additionally, the auditors pointed out that no provision was made for the impairment of intangible assets (Business and Commercial Rights) valued at ₹12.50 crore, despite a lack of revenue generation from these assets. The company also did not provide for interest on late payments to vendors or obtain actuarial valuations for employee benefit obligations.

Impact of Audit Qualifications

The company disclosed the impact of the audit qualifications on its standalone financials. Adjusting for the qualifications, primarily the non-provision of interest and impairment of assets, the total expenditure would rise to ₹1,201.17 crore and the net loss before tax would increase to ₹1,062.52 crore. Consequently, the adjusted net worth would deepen to a negative ₹2,160.35 crore.

Consolidated Performance

On a consolidated basis, the company reported a net loss of ₹34.49 crore for FY26, with total income of ₹14.25 crore. The consolidated results include the financials of subsidiaries HHP Broadcasting Services Private Limited, UBJ Broadcasting Private Limited, and MPCR Broadcasting Services Private Limited. The auditors also raised going concern uncertainties regarding these subsidiaries due to their negative net worth and accumulated losses. The intimation was signed by Ravi Gautam Adhikari, Chairman and Managing Director of the company.