Magnum Ventures Limited — Others, 31-03-2025: Action(s) taken or orders passed

Magnum Ventures Limited has announced a board meeting to discuss the assessment order received from the Income Tax Authority regarding unexplained expenditure for the assessment year 2023-24, amounting to a demand of ₹3.40 crore. While the company acknowledges the financial implication of this order, it asserts there will be no operational impact, as it plans to appeal the decision. This proactive approach may support investor confidence, indicating management's commitment to protect shareholder interests and mitigate potential risks associated with the tax demand.