New Delhi, May 7 -- KEI Industries informed exchanges that the Income Tax (I-T) Department has initiated a search operation at its registered office, plants, and other related locations on Thursday, 7 May.

The company further stated that it is fully cooperating with the authorities and is providing all necessary information and support during the ongoing proceedings. "Once the search by the Income Tax Department concludes, the company will update the stock exchanges in case of any material information/event," the company added.

KEI Industries also emphasised that it adheres to high standards of ethical conduct and legal compliance, adding that its commitment to transparency and due legal process remains unwavering.

The development come...