Mumbai, Oct. 9 -- The proceedings were initiated under Section 67 of the Maharashtra Goods and Services Tax Act, 2017. The company officials were shown an authorisation letter by the state GST officials at around 11:40 am on Thursday.

The company said the inspection or search proceedings are underway, and it is extending full cooperation and assistance to the authorities.

The company stated that there was no material impact on its financials, business operations or other activities as a result of the proceedings at present.

Pitti Engineering is engaged in the manufacturing of electrical steel laminations, motor cores, sub-assemblies, die-cast rotors, press tools, and machining of metal components.

The company's consolidated net profit...