Income tax officials are conducting a search and survey at offices of media firm Zee Group for alleged tax evasion, an official of the tax department said.
The media group has confirmed the development.
In a statement on Monday, a company spokesperson said “officials from the tax department have visited our offices, with certain queries. Our officials are providing all the required information and extending complete cooperation.”
Though the spokesperson did not specify whether the survey is only at its offices in Mumbai, the department official cited above said they are searching Zee offices across Mumbai and Delhi.
However, the official refused to share more details.
Zee Group founder Subhash Chandra is a member of the Upper House of Parliament. The group has been facing cash flow issues since the past year and been divesting non-core businesses to repay lenders.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)