Praveg Limited has announced the conclusion of a search operation conducted by the Income Tax Department at its registered office. The company has stated that the search, which ended on October 17, 2025, has not resulted in any financial impact on its operations.

Key Highlights

• The Income Tax Department concluded its search at Praveg's registered office on October 17, 2025.
• Praveg confirms no financial impact from the search operation.
• Business activities remain stable and unaffected throughout the process.
• The company reaffirms its commitment to regulatory compliance and corporate governance.

Regulatory Compliance

In a filing to the Bombay Stock Exchange (BSE), Praveg Limited provided details of the search operation as required under Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

The company stated in its regulatory filing, "We confirm that there has been no financial impact on the Company as a result of this development, and the business operations of the Company remain unaffected and continue as usual."

Transparency and Governance

Praveg emphasized its commitment to compliance with all applicable laws and regulations, as well as maintaining high standards of corporate governance. The company assured stakeholders of its intention to fulfill all legal obligations, including necessary disclosures, in a timely and transparent manner.

While the specific details of the alleged violations or contraventions are not currently ascertainable, Praveg has committed to providing further updates as material information becomes available.

Investor Communication

Mukesh Chaudhary, Company Secretary & Compliance Officer of Praveg Limited, signed the regulatory filing, reassuring investors of the company's commitment to keeping them informed and updated on any developments related to this matter.

As the situation unfolds, stakeholders will likely be watching closely for any additional information or potential implications of the Income Tax Department's search operation on Praveg Limited.

Praveg Limited has officially launched its highly anticipated Praveg Adalaj Theme Park, marking a significant milestone in Gujarat's event infrastructure landscape. The park is set to become a landmark destination for premium events in the region.

Public-Private Partnership

The Praveg Adalaj Theme Park has been developed through a Public-Private Partnership (PPP) arrangement with Tourism Corporation of Gujarat Limited (TCGL). This collaboration underscores a long-term commitment to enhancing the state's event hosting capabilities, with the park operating under a 30-year lease agreement.

Strategic Location and Cultural Significance

Strategically situated on the Ahmedabad-Gandhinagar Highway, the theme park is poised to capitalize on the twin cities' growing reputation as India's emerging event and convention hub. The venue draws inspiration from the iconic Adalaj Stepwell, seamlessly blending Gujarat's rich heritage with modern infrastructure.

World-Class Facilities

Dr. Vishnukumar Patel, Chairman of Praveg Limited, expressed confidence in the project, stating, "Praveg Adalaj Theme Park is a landmark project that celebrates Gujarat's rich heritage while offering world-class event infrastructure. Located in the heart of Ahmedabad and Gandhinagar, the emerging hub for marquee events, the project will provide unmatched experiences to our guests."

The theme park boasts an impressive array of facilities designed to cater to a wide range of events:

• Museum of Heritage & Culture: A curated space showcasing Gujarat's art, history, and traditions.
• Expansive Venue: Spanning 23,000 square meters, including a 4,500 square meter open garden, 1,924 square meter dining space, and 2,545 square meter ceremony area.
• Amphitheatre: A state-of-the-art 1,350 square meter amphitheatre with green room facilities.
• Ample Parking: A 5,000 square meter parking area for guest convenience.
• Additional Amenities: Open-to-sky lounge, luxury green rooms, scenic selfie points, and fine dining experiences.

Unique Event Spaces

The park features two exclusive venues:

1. Jal Tarang: An open-air amphitheatre set against the backdrop of the Adalaj Stepwell, ideal for conferences, product launches, and corporate events.
2. The Vaav: Inspired by the Adalaj Stepwell, this versatile space is suitable for photo shoots, cultural performances, exhibitions, and large-scale events.

Versatile Event Offerings

Praveg Adalaj Theme Park is designed to host a diverse range of events, including:

• Sufi nights and folk music concerts
• Art exhibitions
• Business networking sessions
• Social gatherings and birthdays
• Government events

With its blend of cultural heritage and modern amenities, Praveg Adalaj Theme Park is set to redefine the premium event landscape in Gujarat, offering a unique venue for both corporate and social occasions.