The Income Tax Department is conductingsearches at the offices of Kishore Chhabriacontrolled Allied Blenders and Distillers Ltd.
The department has been conducting searchesthe premises of the Officer’s Choice Whiskymaker’s Mumbai premises since Dec. 11, peopleaware of the matter told NDTV Profit on thecondition of anonymity.
Confirming the development, the company, in astatement, said it is cooperating with theinvestigation officers.
Bikram Basu, chief operating officer, is present inthe company’s office in Mumbai’s Lower Parelalong with other key executives and directors ofthe company, the people quoted earlier said.
Besides Officer’s Choice, Allied Blenders and Distillers makes spirits including Sterling Reserveand Officer’s Choice Blue. The company’s networkincludes nine owned bottling units, one distillingunit and over 20 non-owned manufacturing units.
The Securities and Exchange Board of Indiaapproved the company’s maiden public offeringon Dec. 16, 2022. Companies have to come outwith a public issue within a year of receivingregulatory approval.
Allied Blenders and Distillers is looking to raise Rs.2,000 crore through its initial public offering.