Shares of Balkrishna Industries Ltd were trading at Rs 2,244.10, down by 1.06%, at 1.20 PM. Shares of Balkrishna Industries Ltd were trading at Rs 2,244.10, down by 1.06%, at 1.20 PM. Shares of Balkrishna Industries Ltd were trading at Rs 2,244.10, down by 1.06%, at 1.20 PM. The Income Tax Department has been conducting searches on premises linked to tyre manufacturer Balkrishna Industries Ltd for the straight fifth day. The premises include office buildings and manufacturing units. Sources told India Today that the I-T department is suspecting a huge amount of bogus billing and tax evasion.
The department has also conducted searches in linked runner plantations and rubber related entities in Kerala.
On Thursday, the company issued a statement stating that it is fully cooperating with the authorities and providing all necessary information and support. "The company adheres to the highest standards of ethical conduct and legal compliance," it said, adding that stock exchanges would be given updates if a material event occurred.
Shares of Balkrishna Industries Ltd were trading at Rs 2,244.10, down by 1.06%, at 1.20 PM.