Deepak Fertilisers & Petrochemicals Corporation has fully resumed normal day-to-day business, after completion of the Income Tax Search and Seizure Operations at various premises of the company.
The company had fully co-operated with the Tax officials responding to all clarifications they had sought and will continue to do so for their balance queries, if any. The company follows best practices of Corporate Governance and compliances and it does not anticipate the search and seizure operations to have any materially adverse impact on the company.
Deepak Fertilisers & Petrochemicals Corporation business can be broadly categorized into Chemicals, Agribusiness and Specialty Retailing. The company’s chemical division manufactures Methanol, various grades of Nitric Acid and Ammonia.