Waaree Energies Faces IT Raids in India, US Duty Evasion Probe Intensifies

Overview

Gujarat-based Waaree Energies is under investigation by Indian Income Tax officials at its offices and facilities. The company is also facing a probe in the US for alleged duty evasion on solar imports. Waaree Energies stated it is fully cooperating with both investigations, while its stock price and those of its related firms declined.