India: The Income Tax Department searched the premises of confidence Petroleum India Limited on 07.10.2025 which is concluded on 12.10.2025. The management of Confidence Petroleum believes that the search action may have been initiated based on fabricated complaints potentially may be filed by competitors or others who are concerned about the company’s significant market progress and growing success in the petroleum sector. “At Confidence Petroleum, we have always maintained a policy of complete tax compliance and transparency in all our business operations,”We have cooperated fully with the investigating authorities and provided comprehensive responses to all queries raised during the search proceedings.” Throughout the search process, the company extended complete cooperation to the tax officials and furnished all requested documentation and information. The company’s records and accounts have been maintained with utmost accuracy and in accordance with all applicable laws and regulations. The management is confident that the company will emerge successfully from this process and company is fully confident and capable of doing all compliance of the findings. Confidence Petroleum has maintained impeccable compliance standards since its inception and remains committed to upholding the highest standards of corporate governance. “We are confident that once the authorities complete their due examination, it will be evident that these allegations lack substance. Our track record speaks for itself, and we remain focused on our business operations and serving our customers with integrity.”
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