We would like to inform you that search & seizure operation by Income Tax Department at the Company''s corporate office of the Company was conducted by Income Tax Department since 14th May, 2025.
Awaiting price reaction for this filing.
GCCL Infrastructure & Projects Ltd informed BSE that the Income Tax Department conducted a search and seizure operation at the company's corporate office in Ahmedabad from 14th May 2025 to 17th May 2025 (ending at 11:30 pm). Business operations were disrupted and halted during the search period. The company has committed to updating stock exchanges about any further material developments. The intimation was filed on 23rd May 2025 under Regulation 30 of SEBI LODR by Director Amam Shreyans Shah.
This is a negative development for shareholders — Income Tax raids often signal potential tax compliance issues and may lead to financial liabilities or penalties. The temporary halt in operations adds near-term business uncertainty, likely weighing on the stock price.