Income Tax Search at Refex: Company Issues Statement Advising Not to Spread Speculations

The Income Tax Department has carried out search operations at the registered office of Refex Industries Limited and at certain other locations associated with the Refex Group.

According to the company's disclosure submitted to stock exchanges, the search operations commenced on 9 December 2025, and the company stated that it has extended full cooperation and provided relevant information to authorities during the process.

In its official communication, Refex Industries clarified that business operations remain unaffected and continue without interruption. The company affirmed its commitment to provide further disclosures in accordance with applicable laws should any additional reportable developments.

Refex Industries has also issued notices and statements asserting that various media reports and online posts published during the ongoing search proceedings relied on unauthenticated and speculative information purporting to describe findings from the search.

The company stated that no official communication regarding the findings has been released by the authorities or by the company, and described such circulating materials as inaccurate, misleading, and unverified.

Further, the company alleged that certain vested-interest individuals or entities circulated misleading information to take undue advantage of the situation. Refex requested all stakeholders and the public to refrain from relying on speculative or unverified materials and emphasized its adherence to ethical conduct, regulatory transparency, and legal compliance.

The Income Tax Department has yet to officially confirm details of the ongoing search.

The earlier published version of this report was due to some misunderstanding in this matter. We regret the earlier miscommunication and any inadvertent reliance on unverified reports before obtaining the company’s official clarification. Our reporting has now been updated to incorporate information directly from the formal disclosures.

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