https://www.bseindia.com/xml-data/corpfiling/AttachLive/00a14cae-29bc-43f1-b8fb-2fae0d56c971.pdf
They did a press release and same can be found on the BSE website. The company has come out refuting all the rumors regarding tax evasion. They have also mentioned that there is no outcome yet from the income tax deportment regarding the search.
It’s good to see the management coming forward with the clarification. This can be seen as a positive step from the management but it’s still good to wait until an official communication comes from the income tax department.
Nevertheless, the stock is under tremendous pressure and this press release from the management should somewhat cool down the panic selling.
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