The offices of Allied Blenders and Distillers Ltd., a company controlled by Kishore Chhabria, are being searched by the Income Tax Department.
Since December 11, the department has been searching the Officer’s Choice Whiskymaker’s Mumbai location, people with knowledge of the situation told NDTV Profit under condition of anonymity.
In a statement, the company confirmed the development and stated that it is working with the investigation officers.
Along with other important executives and directors, the company’s chief operating officer, Bikram Basu, is present at its Lower Parel office in Mumbai, according to the people who were previously quoted.
Allied Blenders and Distillers produces other spirits in addition to Officer’s Choice, such as Sterling Reserve and Officer’s Choice Blue. Nine owned bottling facilities, one distilling facility, and more than twenty non-owned manufacturing facilities make up the company’s network.
On December 16, 2022, the Securities and Exchange Board of India gave its approval for the business’s initial public offering. Companies that receive regulatory approval must release a public statement within a year.
Allied Blenders and Distillers wants to use its initial public offering to raise 2,000 crore rupees.