5447322026-09-115447322026-09-11ActionsTakenOrOrdersPassedDomain15447322026-09-11ActionsTakenOrOrdersPassedDomain1PersonsAgainstWhomActionsTakenOrOrdersPassedDomain15447322026-09-11SignatoriesDomain1iso4217:INRxbrli:pureINNOVISIONINNOVISION LIMITED544732NOTLISTEDINE0ADB01012NewAction(s) taken or orders passed (sub-para 20)false2026-09-1019:01:00Intimation of Imposition of Fine/Penalty under Regulation 30 Clause 20(b) of Para A of Part A of Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 20152026-09-11Imposition of fine or penaltyStatutory AuthorityNational Highways Authority of India1Listed Entity (Self)INNOVISION LIMITEDForefeiture order by emailNHAI, vide its letter No. NHAI/CO/13013/547/22-23/Dinengpasoh FP/E 276473/843 dated September 10, 2026, has approved forfeiture of part Performance Security amounting to ₹1,60,00,000/- (Rupees One Crore Sixty Lakh only) furnished by the Company under the Contract Agreement dated June 10, 2022 (Work Order No. NHAI/13013/547/CO/22-23/CB/Dinengpasoh FP/E-42345/17 dated June 10, 2022) for engagement as the user fee collection agency at Diengpasoh Fee Plaza (Km 24.700) on the Shillong Bypass connecting NH-40 and NH-44, in the State of Meghalaya. The forfeiture has been imposed under Clause 18(a) of the Contract Agreement, which provides for forfeiture of part Performance Security equal to 15 days’ agreed remittance (₹1,60,00,000/-) upon completion of three incidents of levy of penalty for excess charging of User Fee. 2026-09-10NHAI, vide its letter No. NHAI/CO/13013/547/22-23/Dinengpasoh FP/E 276473/843 dated September 10, 2026, has approved forfeiture of part Performance Security amounting to ₹1,60,00,000/- (Rupees One Crore Sixty Lakh only) furnished by the Company under the Contract Agreement dated June 10, 2022 (Work Order No. NHAI/13013/547/CO/22-23/CB/Dinengpasoh FP/E-42345/17 dated June 10, 2022) for engagement as the user fee collection agency at Diengpasoh Fee Plaza (Km 24.700) on the Shillong Bypass connecting NH-40 and NH-44, in the State of Meghalaya. The forfeiture has been imposed under Clause 18(a) of the Contract Agreement, which provides for forfeiture of part Performance Security equal to 15 days’ agreed remittance (₹1,60,00,000/-) upon completion of three incidents of levy of penalty for excess charging of User Fee. Financial Year 2022-23Pursuant to the aforesaid order, an amount of ₹1,60,00,000/- (Rupees One Crore Sixty Lakh only) stands forfeited towards part Performance Security in relation to the said Contract. As the said Performance Security is presently not available with RO Guwahati for adjustment, NHAI has reserved its right to recover/adjust the said amount from any other ongoing contract of the Company with NHAI, or from the Common Bank Guarantee available with NHAI HQ, as deemed fit, in accordance with the applicable contractual provisions.As per the Forensic Audit Report of M/s Deloitte Touche Tohmatsu India Ltd. dated February 14, 2025, excess User Fee amounting to ₹240/- was alleged to have been charged from road users through Electronic Toll Collection (ETC) across 8 (eight) FASTag transactions/IDs at Diengpasoh Fee Plaza on September 3, 2022. The aforesaid incident formed part of three such instances in respect of which penalties were levied, and consequently, NHAI initiated action in accordance with the applicable provisions of the Contract Agreement, including in relation to the Performance Security.360000Penalty -Rs 3,60,000/- (Three Lakhs Sixty Thousand) Forefeiture Amount- Rs 1,60,00000/-(Rupees One Crore Sixty Lakh only) The forfeiture has been imposed under Clause 18(a) of the Contract Agreement, which provides for forfeiture of part Performance Security equal to 15 days’ agreed remittance (₹1,60,00,000/-) upon completion of three incidents of levy of penalty for excess charging of User Fee. Penalty -Rs 3,60,000/- (Three Lakhs Sixty Thousand) Forefeiture Amount- Rs 1,60,00000/-(Rupees One Crore Sixty Lakh only)In this regard, as a remedial measure and to protect its interests, the Company intends to file a Writ Petition before the appropriate Hon’ble Court, challenging the said order of forfeiture and seeking appropriate relief in accordance with applicable law.Jyoti SachdevaCompany Secretary & Compliance Officer2026-09-11Delhi