India I-T department searches packaging major Uflex premises across country over tax evasion charges

• Shubham
• 21 February, 2023

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By: Shubham Ghosh

The Indian income-tax department on Tuesday (21) conducted searches at multiple premises linked to packaging major Uflex as part of an investigation against the company for alleged tax evasion, officials said.

Around 60-70 premises, including the Noida-based company headquarters, in Delhi, UP, Jammu and Kashmir, Gujarat, West Bengal, Tamil Nadu and Karnataka are being covered, they said.

The BSE said the exchange has “sought clarification” from Uflex Ltd on the development and is awaiting a reply. No reaction from the company to the Press Trust of India’s queries was available immediately.

According to the company’s information available on its e-portal, it is “India’s largest flexible packaging materials and solutions company and a leading global polymer sciences corporation”.

Founded in 1985, the company has a presence in multiple verticals of the packaging value chain – packaging films, chemicals, aseptic liquid packaging, holography, flexible packaging, printing cylinders and engineering.

(PTI)