Refex Industries Announces Completion of Income Tax Department Search Operations
Refex Industries Limited announced the completion of Income Tax Department search operations at its registered office and other Refex Group locations. The search, which began on December 9, concluded on December 13 evening. The company stated it provided full cooperation and all requested documents to authorities. No adverse findings have been communicated to Refex Industries following the search. The company assured that its business operations continue normally and it remains committed to ethical conduct and legal compliance.
*this image is generated using AI for illustrative purposes only.
Refex Industries Limited has announced the completion of Income Tax Department search operations that were conducted at its registered office and other locations associated with the Refex Group. The company informed stock exchanges on December 14 that the search operations concluded on the evening of December 13.
Search Operations Timeline
The Income Tax Department initiated search operations on December 9, targeting the company's registered office and certain other locations associated with the Refex Group. The operations spanned four days before concluding on December 13 evening.
| Parameter | Details |
|---|---|
| Search Start Date | December 9 |
| Search End Date | December 13 |
| Duration | 4 days |
| Locations | Registered office and other Refex Group locations |
Company's Response and Cooperation
Refex Industries emphasized that the company and its officers extended full cooperation to the authorities throughout the course of the search operations. The company furnished all information and documents sought by the Income Tax Department during the investigation period.
As of the disclosure date, the company has not received any communication, notice, or order from the Income Tax Department indicating adverse findings pursuant to the search operations. The company specifically noted that certain media reports and social media posts suggesting adverse outcomes are speculative in nature and are not supported by any official communication.
Business Operations Status
The company assured stakeholders that its business operations continue to remain unaffected and are being carried on in the normal course. Refex Industries stated that it continues to conduct its business operations without disruption despite the concluded search operations.
| Aspect | Status |
|---|---|
| Business Operations | Continuing normally |
| Official Adverse Findings | None communicated |
| Company Cooperation | Full cooperation extended |
| Document Submission | All requested documents provided |
Regulatory Compliance and Future Disclosures
Refex Industries confirmed its commitment to maintaining the highest standards of ethical conduct and legal compliance. The company assured that it will keep the stock exchanges informed of any material developments in accordance with the applicable provisions of the SEBI Listing Regulations.
This disclosure follows the company's earlier communication dated December 12, which was titled "Clarification to a reported event or information circulated in the electronic media" regarding the search operations conducted by the Income Tax Department.
The company reiterated its full cooperation with the authorities and stated that no adverse findings have been communicated to them following the conclusion of the search operations.
Historical Stock Returns for Refex Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -5.50% | -11.04% | -17.48% | -38.66% | -44.07% | +1,280.32% |
15
