Exide Industries delays board meet as I-T department surveys offices

Battery maker says the Income Tax department has been conducting a survey at its offices and plants since October 29, adds there's no material impact on operations

Battery maker Exide Industries on Thursday said that the Income Tax department was conducting a survey at its offices and manufacturing units.

 

In a regulatory filing, the company said that the IT department had been conducting the survey since October 29 and that it was extending its full cooperation to the authorities.

 

“Currently, there is no material impact on the business operations of the company due to the aforesaid action. In the event there is any further material update that requires intimation under the SEBI Listing Regulations, the company will make necessary disclosures in accordance with regulatory provisions,” it said.

 

Board meeting deferred due to ongoing survey

 

The company further said that its board meeting, scheduled for Thursday to approve the second-quarter and half-yearly results, had been postponed to a later date.