GTL Infrastructure today said the Income Tax (I-T) authorities have conducted search and seizure operations on the company and its promoters at various locations in past three days.
"The company has co-operated with the I-T authorities fully and provided all details and informations sought during the process," GTL Infrastructure said in a regulatory filing.
"It was a routine check, we are working normally," a senior company official said on the condition of anonymity.
When contacted, sources in the I-T department said, "We have seized some high value paintings, valuations of which is being carried out with the help of experts."
However, they refused to give further details.
The company filing said that it has been a regular assessee under the Income Tax Act, 1961 and has filed its returns regularly.
"Upon conclusion of the process, material development, if any, will be intimated in due course of time," it said.
