The Income Tax Department conducted a raid at our registered office premises that began on 14/05/2025 and ended on 17/05/2025
Awaiting price reaction for this filing.
The Income Tax Department conducted a search at the company's registered office in Ahmedabad from May 14, 2025 to May 17, 2025 (ending at 11:30 pm). The company stated it fully cooperated with officials and provided all clarifications and details requested. Business operations at the registered office were impacted and halted during the search period. The company has committed to keep the exchange informed of further developments on the matter.
This is a negative development that creates uncertainty for shareholders, as tax searches can potentially lead to additional tax liabilities, penalties, or reassessments. The 4-day operational disruption and the unresolved nature of the investigation may weigh on the stock price and investor sentiment until further clarity emerges.