The Income Tax Department is conducting searches at the offices of Kishore Chhabria-controlled Allied Blenders and Distillers Ltd.
The department has been conducting searches on the premises of the Officer's Choice Whisky maker's Mumbai premises since Dec. 11, people aware of the matter told NDTV Profit on the condition of anonymity.
Confirming the development, the company, in a statement, said it is cooperating with the investigation officers.
Bikram Basu, chief operating officer, is present in the company's office in Mumbai's Lower Parel along with other key executives and directors of the company, the people quoted earlier said.
Besides Officer's Choice, Allied Blenders and Distillers makes spirits including Sterling Reserve and Officer's Choice Blue. The company's network includes nine owned bottling units, one distilling unit and over 20 non-owned manufacturing units.
The Securities and Exchange Board of India approved the company's maiden public offering on Dec. 16, 2022. Companies have to come out with a public issue within a year of receiving regulatory approval.
Allied Blenders and Distillers is looking to raise Rs 2,000 crore through its initial public offering.
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