Non-banking financial company (NBFC) Muthoot Capital Services has said the Income Tax Department conducted a raid at its office on Friday.
“Under Section 132 of the Income Tax Act, 1961, the officials of the Income Tax Department carried out a search of the company at the corporate and registered office on Friday, August 5, 2016,” it said in a regulatory filing on Saturday.
Its registered office is situated in Cochin (Kerala). The search proceedings commenced at 0915 hrs and were closed at 1915 hrs, as finally concluded.
The company has provided full cooperation to them and have furnished all explanation, information and clarification required by them, it added.
“We are reasonably confident that the officials, during the search proceedings, would have found our corporate practices and books satisfactory,” the company, part of the Muthoot Pappachan Group,said.