Disclosure of the Search and Seizure action under Section 132 of the Income Tax Act, 1961 on the Company and its directors namely, Mr. Anurag Rathi and Mr. Uddhav Rathi
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On the reaction day the stock moved 6.3 pts less than Nifty Microcap 250 and 6.4 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Rathi Bars Ltd disclosed that an Income Tax search and seizure action under Section 132 was conducted on December 15, 2025 at the company's registered office in New Delhi, its factory in Bhiwadi (Rajasthan), and the residential premises of directors Mr. Anurag Rathi and Mr. Uddhav Rathi. The search operations lasted between December 15 and December 19, 2025, with authorities restricting access to the company's systems, laptops, and electronic records during the proceedings. This filing is a follow-up to BSE's query asking the company to explain the delay in the original announcement filed on December 22, 2025. The company clarified that the delay was due to the time needed to restore system access and retrieve information after the search concluded, and stated there was no mala fide intent behind the late filing.
This is a negative development — an income tax raid on the company and its directors raises concerns about potential tax liabilities or financial irregularities, which could weigh on the stock and create short-term uncertainty for shareholders until the outcome of the proceedings is known.