Income Tax search at premises, plants of Trident

The Income Tax Department conducted search at premises, plants related to textile company Trident Limited which commenced on October 17.

There is no other information available with the company at this point of time, the company said in a filing.

Trident said it has been consistently complying with the provisions of the SEBI (LODR) Regulations, 2015 and making requisite disclosures in a timely manner and will continue to do so in accordance with the applicable regulations.

“The entire IT assets of all the senior officials including the undersigned are under the control of Income Tax Department since yesterday for scrutiny, and we are immediately filing this disclosure upon obtaining the necessary approvals from the Income Tax Department officials to access the IT asset of the undersigned for the said filing. Hence it may be please taken note that the delay in filing this disclosure is purely by virtue of the Law. We reiterate that Trident Limited is an ethical and law-abiding Company and it follows the best corporate governance practices. We are extending our full cooperation to the officials of the Income Tax Department in this regard”, Trident said.

Once the search by the Income Tax Department concludes, the company will promptly update the Stock Exchanges in case of any material information/ event, it added.

The officials of the company are fully cooperating with the Income Tax Department and are responding to the queries raised by them.