Refex Industries Limited Issues Final Clarification on Income Tax Search Operations; Confirms Clean Conclusion and Business Continuity

Refex Industries Limited has issued a comprehensive update regarding the Refex Industries IT Raid conducted by the Income Tax Department at its premises, formally confirming the conclusion of the process with no adverse findings and reaffirming its commitment to transparency, ethical conduct, and uninterrupted business operations.

Background

The Income Tax Department conducted search operations at the registered office of Refex Industries Limited and certain other locations associated with the Refex Group. The search operations commenced on December 09, 2025. During the entire process, the company and its officers extended full cooperation to the authorities and provided all relevant information as required.

Outcome of Search Operations

The Income Tax Department’s search operations were formally concluded after four days of comprehensive examination. Refex Renewables Infrastructure Limited disclosed under Regulation 30 of SEBI Listing Regulations on December 14, 2025, that the search operations were completed on December 13, 2025, with no adverse findings communicated by the authorities.

Throughout the search process, Refex Renewables Infrastructure and its officers maintained complete transparency and provided all necessary documentation and information as requested by the Income Tax Department authorities.

RTI Confirmation — No Official Press Release Issued by IT Department

In a significant development that further reinforces the company’s position, Refex Industries Limited filed an application under the Right to Information (RTI) Act, 2005, dated January 14, 2026, seeking confirmation from the Income Tax Department regarding the issuance of any official statements or press communications pertaining to the operations.

The official response, received on February 18, 2026, via an Order dated February 10, 2026, confirms that the Income Tax Department issued no press releases, official statements, or public communications in connection with the outcome of the search operations.

This RTI confirmation conclusively establishes that all reports circulated in the media during December 9–13, 2025, attributing official findings to the Income Tax Department, were unverified and unsubstantiated.

Company’s Official Statement

In its official clarification issued to stock exchanges, Refex Industries stated:

“Certain vested-interest individuals and entities appear to have circulated incorrect, misleading, and baseless information with mala fide intention to take undue advantage of the situation. The Company categorically denies and strongly rejects such speculative media reports. The facts, information, and numbers published in the media articles and social media posts are completely misleading and incorrect without any substance and base. The Company remains committed to transparency and shall make disclosures to stakeholders at the appropriate time in accordance with applicable laws. We at Refex strictly adhere to the highest standards of ethical conduct and legal compliance.”

Business Operations Unaffected

A key point highlighted in the disclosure is that the search operations had no impact on the company’s normal business activities. Refex Industries confirmed that its operations continued smoothly and without interruption. Manufacturing, service delivery, and administrative functions remained fully unaffected, reinforcing that there was no operational disruption arising from the search exercise.

Stakeholders are advised to rely on official filings and verified disclosures rather than speculative reports circulating in the public domain.

About Refex Industries Limited

Refex Industries Limited is a Chennai-based diversified conglomerate with business interests in refrigerant gases, coal ash handling, power trading, and solar power generation. The company is listed on BSE and NSE and remains committed to responsible corporate governance and regulatory compliance across all its operations.

This press release is based entirely on official disclosures made by Refex Industries Limited to SEBI-regulated stock exchanges and RTI responses from the Income Tax Department.