TV Vision Limited has received a copy of an insolvency petition filed by Punjab National Bank (PNB) before the National Company Law Tribunal (NCLT), Mumbai. The petition has been filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, marking a significant development for the media and entertainment company.

Petition Details

The insolvency petition filed by Punjab National Bank alleges a substantial outstanding amount from TV Vision Limited. According to the official regulatory filing made on March 04, 2026, the petition claims an outstanding amount of INR 294,43,49,883.41.

Regulatory Disclosure

TV Vision Limited has made this disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The company specifically referenced sub clause 16 of Part A of Schedule III in its filing to both BSE Limited and National Stock Exchange of India Limited.

The company has acknowledged that the receipt of this petition copy is considered material information that may have an impact on its operations and financial position. This disclosure demonstrates the company's commitment to maintaining transparency with its stakeholders regarding significant legal and financial developments.

Company's Response

TV Vision Limited, operating as part of the Sri Adhikari Brothers Enterprise group, has assured stakeholders through its official communication that it will continue to provide updates on this matter. The company has committed to keeping stakeholders informed of any further material developments as and when they occur.

The disclosure was digitally signed by Ravi Gautam Adhikari, Chairman & Managing Director (DIN: 02715055), emphasizing the seriousness with which the company is treating this development. The filing was made to both stock exchanges where the company is listed - BSE Limited (Scrip No.: 540083) and National Stock Exchange of India Limited (Symbol: TVVISION).

TV Vision Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2025, revealing continued financial challenges with significant losses and operational difficulties. The broadcasting company also made a key management appointment during this period.

Financial Performance Overview

The company's Q3 FY26 performance showed mixed results compared to the previous year. While the net loss improved marginally, revenue declined substantially, indicating ongoing operational challenges.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, TV Vision Limited reported substantial losses across all key metrics. The company's revenue from operations declined significantly compared to the corresponding period in the previous year.

Key Management Appointment

The Board of Directors approved the appointment of Mr. Hemant Patil as Chief Financial Officer, effective February 04, 2026. Mr. Patil brings extensive experience in financial management, accounting, compliance, and strategic financial planning to strengthen the company's financial governance framework.

Operational and Financial Challenges

The company continues to face significant operational difficulties. Total expenditure for Q3 FY26 was ₹649.36 lakhs compared to revenue of only ₹48.00 lakhs, resulting in substantial losses. Key expense components included:

Auditor Concerns and Going Concern Issues

The company's auditors have expressed material uncertainty regarding TV Vision Limited's ability to continue as a going concern. Key concerns include loan defaults, classification as non-performing asset by banks, substantial losses, and negative total equity. The auditors noted that the company has received a petition from one of its creditors before the National Company Law Tribunal (NCLT), Mumbai Bench, though the impact remains unascertainable.

Company Background

TV Vision Limited operates in the broadcasting segment and is part of the Sri Adhikari Brothers Enterprise group. The company's paid-up equity share capital stands at ₹3,874.45 lakhs with a face value of ₹10 per share. The financial results were approved by the Board of Directors at their meeting held on February 04, 2026, following review by the Audit Committee.