4 shocking revelations from Polycab India raid, as per IT Department

Scandal Erupts

Polycab India, an electronic goods manufacturer that multiplied investors' wealth 8x since its 2019 market debut, is caught in a high-profile tax evasion scandal.

Tax Raids

Income Tax Department raids in 50+ Polycab sites in Delhi, Pune, and Mumbai led to some shocking revelations. Swipe to know more.

Hidden Sales

Polycab is accused of concealing cash sales of Rs 1,000 crore!

Dubious Payouts

It allegedly paid a distributor Rs 400 crore to buy raw materials and evade suspicion from the regulatory bodies.

Fake Invoices

Shockingly, it paid another distributor to issue fake invoices and inflate purchase records by Rs 500 crore.

That's not all

A further Rs 100 crore of dubious expenses were found in Polycab's books

Stock Plunge

Investors swiftly reacted, and the stock fell 21% in a single day (January 11, 2024).

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