Refex Industries Ltd has issued a clarification regarding Income Tax search operations conducted at certain locations associated with the company earlier this month.
In a regulatory filing with stock exchanges, the company said it has fully cooperated with the Income Tax authorities and provided all information sought during the course of the search proceedings.
The company clarified that no official communication indicating adverse findings has been received so far and that its business operations continue as usual without any disruption.
“Refex Industries is extending full cooperation to the authorities and providing all necessary information as required,” the company said in its filing.
Income Tax search operations are part of statutory procedures undertaken by the department to verify records and transactions. Experts note that such searches do not by themselves imply any wrongdoing, and any conclusions, if applicable, are arrived at only after completion of the assessment process as per law.
Refex Industries further stated that it remains committed to regulatory compliance, transparency and corporate governance, and will make appropriate disclosures to stock exchanges in accordance with SEBI’s listing regulations should any reportable developments arise.
The company has advised stakeholders to rely only on official disclosures and verified information.