Prime Focus Clarifies IT Raids, States Operations Unaffected
Prime Focus Limited confirmed Income Tax search proceedings initiated on October 7, 2026. The company is cooperating and seeking information, stating no findings or demands have been received yet. Business operations remain unaffected. Further material developments will be disclosed.
The search by the Income Tax Department is a serious matter that could potentially impact the company's reputation and future operations, although operations are currently unaffected.
The company is cooperating with the IT department and operations are unaffected, but the ongoing search proceeding is a significant event.
Prime Focus Limited has issued a clarification regarding a news item published on cnbctv18.com on October 7, 2026, which reported on Income Tax raids at the company's Mumbai offices.
The company confirmed that the Income Tax Department initiated search proceedings under the Income Tax Act, 2025, on the morning of October 7, 2026, at certain company offices. The search was ongoing as of the date of the letter.
Prime Focus Limited stated that they have not yet received any communication from the Income Tax Department outlining findings, demands, or alleged contraventions. Consequently, the company is unable to comment on the specifics of the search reported in the news item. They are actively seeking necessary information from the Income Tax Department officials.
The company emphasized its full cooperation with the Income Tax Department, providing requested information, documentation, and clarifications. Prime Focus Limited assured that business operations are continuing as usual and have not been impacted by the search proceedings.
Further material developments will be disclosed to the stock exchanges in accordance with applicable laws.
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