Refex Industries Limited recently addressed widespread media coverage concerning search operations conducted by the Income Tax Department at premises associated with the company. In an official disclosure to the stock exchanges, the company provided a detailed clarification to ensure that investors and stakeholders receive accurate and verified information rather than speculative reports.
Background of the Search Operations
According to the disclosure, the Income Tax Department initiated search operations on December 9, 2025, at the registered office of Refex Industries and certain other locations linked to the corporate group. These actions were part of a statutory process undertaken by the authorities. The company confirmed that it fully cooperated during the entire exercise and provided all documents and information requested by officials.
Company’s Cooperation and Legal Compliance
Refex Industries emphasized that its management and employees extended complete support to the authorities throughout the process. The company stated that it continues to cooperate under the guidance of its legal advisors and remains committed to complying with all applicable laws and regulations. The process, as clarified, is still ongoing, and the company will disclose any material developments in line with regulatory requirements.
No Impact on Business Operations
A key point highlighted in the disclosure is that the search operations have had no impact on the company’s normal business activities. Refex Industries confirmed that its operations have continued smoothly and without interruption. Manufacturing, service delivery, and administrative functions remain unaffected, reinforcing that there has been no operational disruption arising from the search exercise.
Addressing Media Reports and Public Speculation
The company expressed concern over the circulation of unverified reports in print, electronic, and social media while the search operations were still underway. It noted that several articles contained incorrect, misleading, and baseless information that was not supported by official communication from either the authorities or the company. Refex Industries categorically denied such speculative narratives and stated that they do not reflect the factual position.
Commitment to Transparency and Ethical Standards
In its statement, the company reiterated its commitment to maintaining transparency and upholding high standards of ethical conduct. It emphasized that disclosures made to the stock exchanges are intended to prevent misinformation and ensure that stakeholders have access to accurate and timely information. This approach aligns with the company’s broader governance framework and regulatory obligations.
Regulatory Disclosure and Investor Communication
The clarification was issued under the Securities and Exchange Board of India’s Listing Obligations and Disclosure Requirements Regulations, which require listed entities to promptly clarify events reported in the media. By issuing this disclosure, the company sought to address concerns arising from headlines referencing Refex Industries IT raid and Refex Group IT raid, while underscoring that no adverse conclusions should be drawn in the absence of official findings.
Conclusion
Refex Industries has reaffirmed that it remains focused on business continuity, regulatory compliance, and transparent communication with stakeholders. As the matter continues, the company has assured investors that it will provide further updates if and when required. Stakeholders are advised to rely on official filings and verified disclosures rather than speculative reports circulating in the public domain.
