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Rationale
Material Event
On July 27, 2022,
Nandan Denim Limited (NDL) disclosed on the stock exchanges that the Income Tax
Department carried out search operations under Section 132 of the Income Tax
Act, 1961, at various premises of the Chiripal group as well as residences of
the promoters and company officials from July 20, 2022 to July 26, 2022. This
followed certain media articles dated July 25, 2022 reporting the same.
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