Income Tax Raids Hit Parle-G Offices and Mumbai Vile Parle Unit: What’s Happening?
The Income Tax (IT) Department launched raids on Parle Products Pvt Ltd, the company behind the beloved Parle-G biscuits, shaking up its Vile Parle facility in Mumbai on Friday. The operation, which began early morning, also extends to the company’s offices and factories in Gujarat’s Kutchh region, according to reports. While officials haven’t revealed the exact reasons for the searches, the move has sparked curiosity across India.
The raids are being spearheaded by the Foreign Assets Unit and the Investigation Wing of the Income Tax Department, as per IANS. Teams from the central agency’s economic wing are digging into Parle’s financial records, looking for clues that might explain this sudden action. Details remain under wraps, but speculation is rife about possible tax-related issues.
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Financially, Parle has been thriving. Reports from PTI show its profits soared from Rs 743.66 crore in FY23 to an impressive Rs 1,606.95 crore in FY24—a massive jump. Back in 2018-19, its operating income grew by 2% to Rs 14,349.4 crore, with total revenue climbing 5.31% to Rs 15,085.76 crore. This growth makes the timing of the raids even more intriguing.
For now, commuters near Vile Parle and workers in Kutchh are watching closely as the IT sleuths continue their work. The outcome could shed light on whether this is a routine check or something bigger. Parle Products has yet to comment, leaving fans of the iconic biscuit wondering what’s next for the brand. Stay tuned as this story unfolds.
Parle Products isn’t just any company—it’s a household name with deep roots. Founded in 1929 in Mumbai’s Vile Parle area, where it likely got its name, Parle rolled out its iconic Parle-Gluco biscuits in 1938. These biscuits became a staple for millions, though production paused briefly after India’s independence before bouncing back. Today, Parle-G is synonymous with affordable snacking across the country.
