IT Department Wraps Up Search at Praveg Ltd; Company Confirms No Financial or Operational Impact

Image Source: The Tribune

The Income Tax Department concluded its search operations at Praveg Ltd’s office, with the company clarifying that its routine business and financial activities remain unaffected. Praveg affirmed full cooperation with authorities and emphasized operational continuity, assuring stakeholders that the search would not disrupt its services or financial performance.

Praveg Ltd, a hospitality and tourism infrastructure firm, announced that the Income Tax Department has completed its search at the company’s office premises. The company stated there will be no financial or business impact from the proceedings, emphasizing that day-to-day operations continue as usual.

In a regulatory filing, Praveg clarified that the search was conducted by tax authorities as part of an ongoing investigation, but it did not disclose further specifics regarding the nature or scope of the examination. The management highlighted that it has extended complete cooperation to the department during the process, ensuring transparency and compliance with all statutory requirements.

The company reassured investors and stakeholders by confirming that the search would not influence its financial health, revenue streams, or business continuity. Praveg’s board and leadership team reiterated their commitment to maintaining business momentum, with all existing projects and contracts proceeding on schedule.

Key Highlights:

- The Income Tax Department has concluded its search at Praveg Ltd’s office.

- The company asserts no financial or operational disruption.

- Praveg continues normal business operations across its active projects.

- Management assured investors of stability and ongoing compliance with tax authorities.

- No monetary penalties, asset seizures, or accounting discrepancies were reported.

- The company plans no change in business guidance or strategic plans for FY26.

Praveg Ltd, known for its leadership in experiential tourism, eco-resorts, and event management infrastructure, has been expanding its footprint across several states. The company’s statement aims to ease market anxiety and reinforce its reputation for regulatory transparency and governance. Analysts believe such incidents, if contained without financial consequence, may not materially affect company valuation or investor sentiment in the long term.

As the search proceedings are now concluded, Praveg expects stability to prevail and anticipates no future disruptions arising from this matter.

Sources: BSE corporate filing, company statement, Economic Times

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