Authum Investment's Premises Searched By Income Tax Department, Shares Fall
'We expect that this has no impact on our operational performance,' the company says.
Authum Investment & Infrastructure Ltd. has said the Income Tax Department had been conducting a search-and-seizure operation on the premises of its corporate office.
The searches were also going on at the residential and commercial premises of its promoters from Dec. 11, according to an exchange filing on Thursday.
The non-banking financial institution said it was cooperating with the officials and responding to the queries. "We expect that this has no impact on our operational performance."
As the entire income tax assets of all the senior officials were under the control of the department for scrutiny, the company disclosed the information after obtaining the approvals from it.
Shares of Authum Investment were trading 2.17% lower at Rs 759.15 apiece on the BSE compared to a 0.64% advance in the benchmark Sensex as of 11.18 a.m.
