G Square Realtors, a leading real estate company, recently addressed the ongoing G Square IT Raid at its various premises across the country. The company issued a statement on Wednesday, denying several media allegations, including the seizure of Rs 3.5 crore and its supposed association with a family member of a political party.
In a press release, Bala Ramajeyam, Managing Director of G Square Realtors Pvt Ltd, explained, “The recent G Square IT Raid searches were part of a standard procedure intended to seek specific financial information. We want to make it clear that these searches are routine and aimed at ensuring compliance with tax laws. Several real estate companies have undergone similar inspections across India in recent months.”
Ramajeyam further emphasized that the comprehensive investigations had confirmed that G Square had no connections with any political parties or their family members, as evidenced by the records submitted to the authorities. “The investigations have effectively debunked baseless allegations, including false claims about our net worth of Rs 38,000 Crores. This has been an opportunity to present the truth to the public and to vindicate our position with verifiable facts from the central authorities,” he added.
While G Square Realtors values its cooperation with regulatory authorities and has always upheld the highest ethical standards in its business practices, the company expressed disappointment over the spread of false and malicious information by certain news channels and individuals with potential ulterior motives.
Ramajeyam also addressed a social media post that wrongly associated a specific Chartered Accountant with G Square Realtors. “This is false. Our Statutory Auditors are M/s. G Shankar and Associates, and AVS Associates handle our compliance and audit services,” he clarified.
In conclusion, G Square Realtors maintains that the ongoing G Square IT Raid investigation is part of routine compliance checks and that the company has fully cooperated with the authorities. The real estate company hopes this will clear up any misconceptions surrounding the G Square IT Raid.
Comments