The Income Tax Department has been conducting searches on premises linked to tyre manufacturer Balkrishna Industries Ltd since Monday, an exchange filing has revealed. The premises include office buildings and manufacturing units.
A statement from the company said it is fully cooperating with the authorities and providing all necessary information and support. "The company adheres to the highest standards of ethical conduct and legal compliance," it said, adding that stock exchanges would be given updates if a material event occurred.
Shares of Balkrishna Industries dropped 2.11% to Rs 2,294.9 on Wednesday, when the benchmark Sensex fell over 900 points - a decline of 1.23%.
Featured Video Of The Day
High-Value Cash Transactions At Hotels, Hospitals Come Under Income Tax Scrutiny Is Your Income Tax Return Delayed? Here's What You Should Do ITR Filing 2024 Deadline: Penalty For Missing The Income Tax Return Filing Amazon Employee Greets Friend At Wedding, Dies Of Cardiac Arrest "Speculative, Inaccurate": Canada Factchecks Own Media Over India Charge This Asian City Is Emerging As Sex Tourism Hub. It's Not Where You Think Joe Rogan Mocks 'The View' Co-Host Who Accuses Him Of Believing In Dragons Canada Rolls Back Extra Screening For Fliers To India Most And Least Expensive Passports In 2024: Here's Where India Stands Track Latest News Live on NDTV.com and get news updates from India and around the world.