Dishman share prices dropped sharply following a new report this morning which said that the income tax (IT) department has found a trail of unaccounted for cash of more than Rs 160 crore.

Denying the news, JR Vyas, MD, Dishman Carbogen clarified to CNBC-TV18, “There has been no communication, no letter, no one-to-one chat and suddenly a newspaper prints the news. There was one search operation by the IT department, which happened two weeks back and afterwards nobody has come or contacted.”

He further said with regards to this news about unaccounted cash, “They have to send me the statement. Verbally, whatever we had to say during the statement, we have told them, none of the statement says about this money and suddenly this newspaper prints Rs 160 crore news."

“The cash withdrawal are all from the cash drawn from the accounts of cash paid money,” said Vyas.

He also confirmed that after the raid, the IT department or investigators have not come back with any penalty or assessment.