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Real estate developer Sobha Ltd said on Wednesday the income tax department was carrying out a search at its registered office and other premises.
The Bengaluru-based company did not specify the reason for the search.
“..as a responsible company, all the concerned employees, staff of the company are extending their full cooperation to the officials,” it said in the statement.
At 9.40 am shares of Sobha Ltd were down nearly 4 per cent at Rs 499.30 on the National Stock Exchange.
Also read: Listed realtors have cut their debt by over 40% in last 3 years
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