BSEInnovatus Entertainment Networks LtdHighNegative
Announced Thu, 9 Jul · 19:33 IST
New director appointed; about Rs 16.3 cr GST penalty notice; results delayed
Regulatory & Legal View source PDF
Price reaction · full curve
Awaiting price reaction for this filing.
AI summary
Innovatus Entertainment board appointed Mr. Kanakanjan Nag as Additional Director from July 8, 2026. The board also noted a DGGI Bangalore show cause notice seeking about Rs 7.9 crore penalty under CGST Act section 122(1)(ii) and about Rs 8.4 crore under section 122(1)(vii). The company plans to challenge it before the adjudicating authority. Financial results for periods ending March and September 2025, and March 2026 are postponed due to auditor preoccupation, with the next board meeting set for July 13, 2026.
Likely market impact
Combined about Rs 16.3 crore GST penalty exposure is material for a small company. Results delay raises compliance concerns and could pressure the stock.