Trident Group, one of the leading Indian home furnishing giants, has reacted to the raids conducted in its various manufacturing units and offices by the Income Tax Department.
IT raids were conducted at the company’s corporate office in Ludhiana along with sites in Barnala and Dhaula, and manufacturing units in Madhya Pradesh and Punjab.
“The Income Tax Department in India regularly conducts this type of audit and inspection activity, and our teams across India are fully supporting their work. We have full confidence in our financial operations and will remain committed to working with regulators to resolve any questions that may arise,” said Julie McKenzie, CEO – North America for Trident Global Inc.
A report of Home Textiles Today reported that the company plans to release a more comprehensive statement once the current activity is complete.
Also Read: Income tax raids on trident Group’s manufacturing units and offices
The Indian IT officials said the raids were part of an investigation into potential financial irregularities, according to several business outlets in India. Raids are continue from three days.
