Action(s) taken or orders passed

Innovision Limited has faced a financial setback as the National Highways Authority of India approved the forfeiture of part performance security amounting to 1.60 Cr, following a forensic audit alleging excess user fee collection at the Diengpasoh Fee Plaza.

The company also faces a minor penalty of 0.04 Cr.

To protect stakeholder interests and challenge these findings, management intends to contest the order by filing a writ petition in court.

This penal action impacts liquidity as authorities may recover the amount from ongoing contracts or common bank guarantees.