The investigation wing of the Income Tax department is conducting searches at offices and manufacturing plants of Aarti Industries, a source told Moneycontrol.
Aarti Industries, which deals in the specialised chemical segment, is headquartered in Mumbai and has 16 manufacturing units dotted across the western coast of India, including Vapi, Tarapur, Dahej and Silvasa.
More than two dozen officials of the I-T Department were involved in the searches, the source said, which were ongoing at the time of publishing this story.
The reason behind the searches could not be immediately known.
Aarti Industries could not be reached for a comment on the development. This article will be updated when the company responds.
This is a developing story and will be updated.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
