Income Tax Department Raids on Allied Blenders and Distillers:

Income Tax Department Raids on Allied Blenders and Distillers The Income Tax Department is conducting a search and seizure operation at the offices of Kishore Chhabria's company, Allied Blenders and Distillers Ltd. Since December 11, the department has been searching the Officer's Choice Whiskymaker's Mumbai location, according to people with knowledge of the situation who spoke on condition of anonymity. The corporation confirmed the development and stated in a statement that it has been cooperating with the investigators. Along with other important executives and directors, the company's chief operational officer, Bikram Basu, is present at its Lower Parel office in Mumbai, according to the sources who were previously quoted. Allied Blenders and Distillers produce other spirits in addition to Officer's Choice, such as Sterling Reserve and Officer's Choice Blue. Nine owned bottling facilities, one distillery, 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 is looking to raise Rs.2,000 crore through its initial public offering.