KNR Constructions Ltd says IT department conducted search at its premises

In a notification sent to the stock exchanges KNR Constructions Ltd has said that the Income Tax department conducted a search under the powers conferred to them by the provisions of the section 132 of the Income Tax Act, 1961 at its registered office and residences of Company's officials from 16th March 2022 to 19th March 2022. The notification said that the company has extended full co-operation to the officials of the department including providing all explanations, information, and clarifications as desired by them in this matter in a timely manner.

The company claimed that it follows the highest standards of Corporate Governance and Financial Discipline. The systems and processes are benchmarked by competent auditing and accounting standards.

The company also confirmed that the proceedings have absolutely no impact on the operational performance of the Company.

Shares of KNR Constructions Limited was last trading in BSE at Rs. 279.20 as compared to the previous close of Rs. 286.15. The total number of shares traded during the day was 87989 in over 3547 trades.

The stock hit an intraday high of Rs. 291.25 and intraday low of 267.00. The net turnover during the day was Rs. 24825229.00.

Source : Equity Bulls

Keywords

KNRConstructions INE634I01029 ITSearch