Fusion Finance Limited has informed the Exchange about dropping the proceedings under section 73 from the JointCommissioner Corporate Circle, Varanasi, Uttar Pradesh.

Fusion Finance has informed the stock exchange that proceedings under Section 73 (likely of the Income Tax Act, dealing with tax assessments on undisclosed income) initiated by the Joint Commissioner Corporate Circle in Varanasi, Uttar Pradesh, have been dropped. This means the tax authority has closed the case without proceeding further against the company. Section 73 matters typically relate to notices on alleged tax evasion or short payment. The closure removes a potential financial liability and ongoing legal uncertainty for the company.