NEW DELHI: Deepak Fertilisers and Petrochemicals Corporation on Friday said the income tax department was carrying out search and seizure operations in the company’s office premises and plants since on Thursday.
“The search and seizure operations are still continuing, and the company is extending full cooperation,” the Pune-based company said in a regulatory filing.
The company assured that it was following the highest standard of corporate governance and compliances while conducting its business operations and would continue to do so.
“We will keep all stakeholders informed of the outcome, on conclusion of the search proceedings,” it added.
Deepak Fertilisers had posted a consolidated net profit of Rs 18.51 crore for the second quarter of 2018-19, down from Rs 42.73 crore in the same period last year.
Source: Press Trust of India
