Overview
- Waaree Energies disclosed that Income Tax officials visited some offices and facilities for an investigation, adding that proceedings are underway and it is extending full cooperation.
- Reports describe large-scale search-and-seizure operations by roughly 25 teams across Mumbai, Chikhli and Vapi, beginning at the 5.4 GW Chikhli gigafactory.
- Media accounts say teams reviewed digital records, documents and asset information, with reported searches at residences linked to Chairman and Managing Director Hitesh Doshi and his brother Kirit Doshi.
- The stock fell sharply in intraday trade, dropping 4–6% to lows near Rs 3,075–3,085 before closing down about 3.3% at roughly Rs 3,175.
- Waaree has not detailed the scope of the probe, and reports say the focus includes financial records, transactions and potential irregularities tied to operations and expansion.