Mumbai, Sept. 19 -- Marico Limited, which is the parent company of the popular hair oil brand 'Parachute', stated today that "presently, there is no material impact from survey operations conducted by the Mumbai investigation wing of the Income Tax Department at Marico's offices".
Marico, which is led by its Chairman Harsh Mariwala, is a household name known for fast moving consumer goods (FMCG) brands such as Parachute, Saffola and Livon. Marico has a strong presence in both domestic and international markets like West Asia (Middle East) and Africa.
The company stated in a stock exchange filing here that proceedings are underway and it is extending its full cooperation to the Income Tax Department.
The company's statement came a day aft...