The Income Tax Department has carried out search operations at the Vile Parle office of Signpost India Limited, a leading out-of-home and digital media company. The action, conducted under Section 132 of the Income Tax Act, 1961, pertains to its subsidiary, S2 Signpost India Pvt. Ltd., which was set up to handle advertising contracts for the Netaji Subhash Chandra Bose International Airport (Kolkata) project.
In a filing to the BSE and NSE, the company confirmed the raid and stated that it is fully cooperating with tax authorities. It further clarified that the operation has not caused any material impact on its business operations. The disclosure was signed by Jenny Shah, Company Secretary and Compliance Officer.
While the details of the investigation have not been revealed, the development has drawn significant attention within the advertising and media fraternity, given Signpost India’s strong presence in airport advertising, digital media, and urban infrastructure.
The company assured stakeholders that it will provide any further updates in line with SEBI’s Listing Obligations and Disclosure Requirements (LODR). The move comes amid growing regulatory scrutiny on financial and contractual practices across advertising and infrastructure sectors.
Following the announcement, Signpost India’s shares, traded as SIGNPOST on NSE and under code 544117 on BSE, are expected to experience volatility as the market reacts to the news.