Youth Cong stages protest against govt over IT notice
The Indian Youth Congress (IYC) on Saturday staged a protest against the BJP-led government over the Income Tax notice to…
Polycab India has said that the Income Tax Department has initiated a search at some of the premises and plants related to the company.
“Pursuant to Regulation 30 of the Listing Regulations, please be informed that the Income Tax Department has initiated a search today, i.e., December 22, 2023 at some of the premises/plants related to the Company. The Company is fully cooperating with the authorities, providing them with all necessary information and support,” Polycab India said in a filing on Friday.
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“Once the search by the Income Tax Department concludes, the Company will update the Stock Exchanges in case of any material information/event. At Polycab India, we adhere to the highest standards of ethical conduct and legal compliance. Our commitment to transparency and belief in the due process of law remain unwavering,” it added.
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Polycab shares fell more than 4 per cent on Friday after reports of the Income Tax search operations. The company’s market cap is Rs 80,493 crore.
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