<p>New Delhi: The Directorate of Revenue Intelligence (DRI) has conducted a search operation at the headquarters of Havells India, a leading manufacturer of electrical goods and appliances.</p>.<p> DRI acts as the lead agency to check smuggling and cases of commercial fraud.</p>.<p>"The Directorate of Revenue Intelligence has conducted a search at the Corporate office of the Company viz Havells India Limited in Noida, which concluded this morning on 4th November 2023 at around 2:20 am," Havells India said in a regulatory filing.</p>.CCB raids three godowns in city, seize firecrackers worth Rs 40 lakh.<p> The search was conducted over 'alleged mis-classification in import of Heating Element,' the company said.</p>.<p> According to the company- which operates in the consumer electrical and appliances market with brands such as Havells, Lloyd, Crabtree, Standard and REO - its impact on financial, operation or other activities on the company cannot be quantified at this point in time.</p>.<p> However, it said, "in the preliminary assessment, we understand that it will not have any material impact on financial operations or other activities of the company." </p><p>For 2022-23, Havells India reported a revenue of Rs 16,868.38 crore.</p>.<p> The company has 15 manufacturing units and 90 per cent of the products sold in the country are manufactured in-house. </p>
<p>New Delhi: The Directorate of Revenue Intelligence (DRI) has conducted a search operation at the headquarters of Havells India, a leading manufacturer of electrical goods and appliances.</p>.<p> DRI acts as the lead agency to check smuggling and cases of commercial fraud.</p>.<p>"The Directorate of Revenue Intelligence has conducted a search at the Corporate office of the Company viz Havells India Limited in Noida, which concluded this morning on 4th November 2023 at around 2:20 am," Havells India said in a regulatory filing.</p>.CCB raids three godowns in city, seize firecrackers worth Rs 40 lakh.<p> The search was conducted over 'alleged mis-classification in import of Heating Element,' the company said.</p>.<p> According to the company- which operates in the consumer electrical and appliances market with brands such as Havells, Lloyd, Crabtree, Standard and REO - its impact on financial, operation or other activities on the company cannot be quantified at this point in time.</p>.<p> However, it said, "in the preliminary assessment, we understand that it will not have any material impact on financial operations or other activities of the company." </p><p>For 2022-23, Havells India reported a revenue of Rs 16,868.38 crore.</p>.<p> The company has 15 manufacturing units and 90 per cent of the products sold in the country are manufactured in-house. </p>