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Plaza Centers NV - property investor in India - Notes investigators on behalf of the India state tax authority arrived at the offices of Elbit Plaza India Management Services Private Ltd on Monday, which is a private company wholly owned by Elbit Plaza India Real Estate Holdings Ltd.
Says investigators conducted a search and seized certain documents relating to EPM's activities and transactions in India in recent years, alongside collecting statements from some of EPM employees, managers and consultants. Says EPM managers were required to provide additional data in connection with EPM's operations in India and to refrain from any disposition of EPM's assets.
Notes that EPM is fully cooperating, but it is not yet clear what the purpose of the investigation is at this stage. This includes whether EPM is the purpose of the investigation or whether the investigation is related to any third party. Says it will update on any development.
Current stock price: 45.00 pence, flat
12-month change: down 31%
By Greg Rosenvinge, Alliance News reporter
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