Ahluwalia Contracts (India) on Friday said Income Tax department had searched its premises two days starting from November 8 and any material impact will be intimated in due course of time.
”...Income Tax Department conducted the search and seizure operations on the company’s premises and its various locations... on November 08, 2012 which continued on November 09, 2012 also,” Ahluwalia Contracts (India) said in a BSE filing.
Ahluwalia Contracts is one of the leading civil contractors of the country.
“The material impact, if any, on the company will be intimated in due course of time on completion of the process,” it added.
Shares of the company today settled in the BSE at Rs 39.55 apiece, down 0.5 per cent over the previous closing.