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 inaugurated its highly anticipated Praveg Adalaj Theme Park and Heritage Stepwell Museum on December 22, 2025. The landmark destination was formally inaugurated by Shri Bhupendrabhai Patel, Honourable Chief Minister of Gujarat, marking a significant milestone in Gujarat's tourism and cultural infrastructure development.

Distinguished Inauguration Ceremony

The inauguration ceremony was graced by prominent dignitaries, underscoring the project's national and state-level importance:

Public-Private Partnership Model

The Praveg Adalaj Theme Park has been developed through a Public-Private Partnership (PPP) arrangement with Tourism Corporation of Gujarat Limited (TCGL). Developed and operated by Praveg Adalaj Tourism Infrastructure Private Limited, a wholly owned subsidiary of Praveg Limited, the project operates under a 30-year lease agreement, reinforcing Praveg's long-term commitment to creating sustainable, world-class tourism and event destinations.

Strategic Location and Cultural Heritage

Strategically situated on the Ahmedabad-Gandhinagar Highway, the theme park is positioned 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 to create a multi-dimensional cultural landmark.

World-Class Facilities and Infrastructure

Dr. Vishnukumar Patel, Chairman of Praveg Limited, expressed his vision for the project: "The inauguration of Praveg Adalaj Theme Park and Heritage Stepwell Museum represents our vision of integrating Gujarat's timeless heritage with contemporary infrastructure. It is not merely an event venue, but a cultural destination that narrates history, promotes tourism, and creates immersive experiences."

The theme park boasts comprehensive facilities designed for diverse events:

Exclusive Event Venues

The park features two distinctive venues catering to different event requirements:

Jal Tarang: An open-air amphitheatre set against the timeless backdrop of the Adalaj Stepwell, designed to host government and corporate conferences, product launches, leadership seminars, award ceremonies, and brand activations.

The Vaav: Inspired by the Adalaj Stepwell, this versatile space offers a distinctive setting for photo shoots, cultural and musical performances, exhibitions, panel discussions, and large-scale corporate events.

Heritage Stepwell Museum

The Heritage Stepwell Museum serves as a key highlight of the destination, offering visitors an immersive journey through Gujarat's architectural brilliance, folk traditions, craftsmanship, and cultural evolution. Drawing inspiration from the world-renowned Adalaj Stepwell, the museum blends storytelling, spatial design, and curated exhibits to create a living heritage experience.

Versatile Event Portfolio

Praveg Adalaj Theme Park is designed to accommodate a comprehensive range of events, including Sufi nights, folk music concerts, art exhibitions, business networking sessions, social gatherings, birthdays, and government events. The destination aligns with the Government of India's and Government of Gujarat's broader vision of promoting heritage tourism, experiential travel, and sustainable infrastructure development.