Jet Airways Declares Income Tax Survey At Its Premises Since September 19

Jet Airways is already under the scanner of markets regulator SEBI for various alleged lapses

New Delhi: 

Jet Airways said today that Income Tax officials have been conducting survey of its premises since September 19.

Shares of the crisis-hit airline fell over 8 per cent to touch a low of Rs 224.70 on the Bombay Stock Exchange. It later recovered some lost ground and was trading at Rs 231.40, down 5.26 per cent at 11:38 am on the BSE.

On Wednesday, sources said the Income Tax Department is inspecting the books to ascertain whether there have been falsification of accounts, suspicious dealings and other possible violations.

In a regulatory filing today, the carrier said Income Tax officials are conducting a survey of the premises of the company since September 19.

“The company is fully cooperating with the authorities and is responding to the queries by the Income Tax authorities,” it said.

The full service carrier, grappling with financial difficulties, is already under the scanner of markets regulator SEBI and the Corporate Affairs Ministry for various alleged lapses.

The airline reported a net loss of Rs 1,323 crore for the June quarter on August 27. The carrier is also under the regulatory lens for deferring the results, which were initially scheduled to be announced on August 9.
 

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