New Delhi: Non-banking financial company (NBFC) Muthoot Capital Services on Saturday said the income tax department raided its office on Saturday. “Under Section 132 of the Income Tax Act, 1961, the officials of the income tax department carried out a search of the company at the corporate and registered office on Friday, August 5, 2016,” it said in a regulatory filing on Saturday. The search proceedings commenced at 9.15am and were closed at 7.15 pm, as finally concluded. Its registered office is situated in Cochin, Kerala. “We are reasonably confident that the officials, during the search proceedings, would have found our corporate practices and books satisfactory,” the company, part of the Muthoot Pappachan Group, said.

Source: Mint August 06, 2016 16:18 UTC