Income Tax Department conducts searches at India Pesticides offices

India Pesticides Ltd (IIL) on Monday (December 16) disclosed that the Income Tax Department is conducting searches at its registered office and other company premises.

“…we would like to inform you that a search by the Income Tax Department is being carried out at the registered office and other premises of the company,” India Pesticides said in a regulatory filing.

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The company confirmed its full cooperation with the authorities, stating that its employees are providing all necessary information and support during the process. “The company and its employees are fully cooperating with the authorities and providing them with all necessary information and support,” it said.

India Pesticides is one of the leading R&D-driven and globally operating agrochemical companies. Also, it is a leading manufacturer of herbicide and fungicide technicals and active pharmaceutical ingredients (APIs).

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Shares of India Pesticides Ltd ended at ₹190.35, down by ₹0.20, or 0.10% on the BSE.