Income Tax raids at Punj Lloyd offices

The income tax department conducted searches at offices of engineering and construction company Punj Lloyd. The raids, which are said to have started early on Tuesday, continued till late on Thursday.

The income tax department conducted searches at offices of engineering and construction company Punj Lloyd. The raids, which are said to have started early on Tuesday, continued till late on Thursday.

HT Image

“Searches were conducted at offices across the country. We would be carrying out the follow-up action over the next few days, which could include questioning and recording of statements, going through sealed documents,” an IT official said on condition of anonymity.

The reason for the search and the location of offices at which the search was conducted could not be confirmed.

“This is a routine enquiry done by the income tax authorities. We are a listed company, audited by S.R. Batliboi and Co, and follow good corporate governance practices,” a spokesperson of the company said when contacted for comments.