IIFL Finance confirms conclusion of I-T search operation

IIFL Finance has announced that the Income Tax Department has concluded its search at its registered office and other company locations. The development was disclosed in a regulatory filing under SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

The I-T Department launched a search operation at the registered office and other locations of IIFL Finance Limited, which began on January 28, 2025. The company confirmed the development in an official communication to stock exchanges, stating that it was fully cooperating with tax officials.

CNBC-TV18, citing sources, reported on January 28 that the searches were linked to allegations of tax evasion. The raids reportedly began early on January 28 across multiple floors of the 360 ONE WAM (formerly IIFL Wealth) building in Kamala Mills. The non-banking financial company (NBFC) has not provided details regarding the nature or findings of the search.

As of 2:30 pm, shares of IIFL Finance were trading 0.79% higher at ₹349 apiece.

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