Raymond Realty Concludes Income Tax Survey, Extends Full Cooperation

Raymond Realty , a prominent player in the real estate sector, has successfully completed an income tax survey conducted by the Income Tax Department. The company has affirmed its full cooperation with the tax authorities throughout the process, demonstrating its commitment to transparency and regulatory compliance.

Survey Details

According to a regulatory filing by Raymond Realty Limited to the National Stock Exchange of India Limited and BSE Limited, the survey action was carried out under Section 133A of the Income Tax Act, 1961. The company had initially informed the stock exchanges about the commencement of the survey on September 26.

Completion and Cooperation

The filing states, "We hereby inform that the said action was completed yesterday evening, and the Company had extended its full co-operation on the matter." This prompt disclosure aligns with the company's obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Company Response

Hiren Sonawala, Company Secretary of Raymond Realty Limited, signed the regulatory filing, emphasizing the company's commitment to keeping shareholders and the public informed about significant developments. The company has also stated that this information will be made available on its official website, www.raymondrealty.in , ensuring easy access for all stakeholders.

Impact and Outlook

While the specific details of the survey findings have not been disclosed, the completion of the process without any reported issues suggests that Raymond Realty has maintained proper financial records and practices. The company's proactive approach in cooperating with the tax authorities and promptly informing the stock exchanges may help maintain investor confidence.

As the real estate sector continues to be a key focus area for regulatory bodies, Raymond Realty's transparent handling of the income tax survey sets a positive example for corporate governance in the industry. Investors and market watchers will likely keep a close eye on any further developments or disclosures from the company in the coming days.