Refex Renewables Confirms Closure of IT Search Operations, No Adverse Findings

Refex Renewables Infrastructure Limited has announced the successful conclusion of Income Tax Department search operations that began on December 9, 2025. The company disclosed under Regulation 30 of SEBI Listing Regulations on December 14, 2025, that the search operations were completed on December 13, 2025, with no adverse findings communicated by the authorities.

Search Operations Timeline and Closure

The Income Tax Department's search operations, which commenced on December 9, 2025, have been formally concluded after four days of comprehensive examination. The company has provided complete details of the operation timeline and outcomes:

Parameter:	Details
Operation Start Date:	December 9, 2025
Operation End Date:	December 13, 2025
Duration:	4 days
Locations Covered:	Registered office and other Refex Group locations
Company Cooperation:	Full cooperation extended throughout
Official Communication:	No adverse findings received
Business Impact:	Operations remain completely unaffected

Throughout the search process, Refex Renewables Infrastructure and its officers maintained complete transparency and provided all necessary documentation and information as requested by the Income Tax Department authorities.

No Adverse Findings Reported

In a significant development, the company has confirmed that as of the disclosure date, no communication, notice, or order has been received from the Income Tax Department indicating any adverse findings pursuant to the search operations. This represents a positive outcome for the company and its stakeholders.

Communication Status:	Details
Official Notice:	No adverse findings communicated
Department Communication:	No orders or notices received
Media Speculation:	Rejected as unsupported by official communication
Business Continuity:	Normal course operations maintained

Response to Speculative Media Reports

Refex Renewables Infrastructure has addressed speculative media coverage and social media posts suggesting adverse outcomes from the search operations. The company has categorically stated that such reports are speculative in nature and are not supported by any official communication from the Income Tax Department.

The company's position on media speculation includes:

Rejection of speculation: Media reports suggesting adverse outcomes lack official backing
Emphasis on facts: Only official communications from authorities will be considered factual
Continued transparency: Commitment to inform stakeholders of any material developments
Normal operations: Business activities continue without disruption

Compliance and Future Disclosures

Refex Renewables Infrastructure has reaffirmed its commitment to maintaining the highest standards of ethical conduct and legal compliance. The company has assured stakeholders that it will keep the stock exchanges informed of any material developments in accordance with applicable provisions of SEBI Listing Regulations.

Commitment Area:	Company Position
Ethical Standards:	Strict adherence to highest standards
Legal Compliance:	Full compliance with applicable laws
Stakeholder Communication:	Timely disclosures as per regulations
Business Operations:	Continued normal course activities

The company continues to conduct its business in the normal course, with all operations remaining unaffected by the concluded search operations. This development provides clarity and closure to the matter that began earlier in December 2025.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.99%	+14.73%	-30.27%	-70.94%	-69.16%	+548.93%

Refex Renewables Infrastructure (RRIL) has disclosed that its step-down subsidiary, Sherisha Solar LLP (SS LLP), is facing an insolvency petition filed by SILRES Energy Solutions Private Limited. The petition, filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, alleges a payment default of ₹34.24 crore.

Key Details of the Insolvency Petition

Aspect	Details
Petitioner	SILRES Energy Solutions Private Limited
Respondent	Sherisha Solar LLP (SS LLP)
Alleged Default Amount	₹34,24,38,916
Filing Venue	National Company Law Tribunal, Chennai Bench
Legal Basis	Section 7 of the Insolvency and Bankruptcy Code, 2016

Company's Response

RRIL has informed that SS LLP, which is indirectly wholly-owned through Refex Green Power Limited (a wholly-owned subsidiary of RRIL), intends to "vigorously contest" the petition. This stance suggests that the company disputes the claims made in the insolvency application.

Potential Implications

The filing of an insolvency petition against a step-down subsidiary could have significant implications for Refex Renewables Infrastructure Limited. If the petition is admitted and proceeds to insolvency resolution, it may impact the financial structure and operations of the broader Refex group.

Disclosure Compliance

RRIL's prompt disclosure of this development aligns with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This transparency allows investors and stakeholders to stay informed about material events that could affect the company's operations and financial health.

As the situation unfolds, stakeholders will likely be watching closely for updates on the proceedings at the National Company Law Tribunal and any potential resolutions between SS LLP and SILRES Energy Solutions Private Limited.