IT department raids Mankind Pharma office in Delhi over tax evasion allegation

IT department raids Mankind Pharma office in Delhi over tax evasion allegation

The department is searching the company premises in Delhi and nearby locations, documents are being checked and people are being questioned reported PTI.

FPJ Web DeskUpdated: Thursday, May 11, 2023, 10:54 AM IST
article-image
IT department raids Mankind Pharma office in Delhi over tax evasion allegation | File

The Income Tax department on Thursday conducted searches on the premises of Mankind Pharma over allegations of tax evasion, reported PTI quoting official sources said.

The department is searching the company premises in Delhi and nearby locations, documents are being checked and people are being questioned reported PTI.

The company is engaged in developing, manufacturing and marketing a diverse range of pharmaceutical formulations across various acute and chronic therapeutic areas, as well as several consumer healthcare products.

The share of Mankind Pharma fell by 6 per cent on Thursday after the company made sharp gains post the market listing.

The company made its debut on the stock exchanges on Tuesday. It also launched its IPO this year.

With inputs from PTI

RECENT STORIES

Income Tax Department Notifies Cost Inflation Index For Current Fiscal

Income Tax Department Notifies Cost Inflation Index For Current Fiscal

Scorching Heat & Record-Breaking Demand: India's Peak Power Soars To Nearly 240 GW On May 24

Scorching Heat & Record-Breaking Demand: India's Peak Power Soars To Nearly 240 GW On May 24

Indigo Airlines Announces Business Class On Busiest Routes Amid Strong Q4 Results

Indigo Airlines Announces Business Class On Busiest Routes Amid Strong Q4 Results

NHAI's Asset Monetisation Drive Poised To Generate Up To ₹60,000 Cr In FY2025

NHAI's Asset Monetisation Drive Poised To Generate Up To ₹60,000 Cr In FY2025

Reliance Industries Seeks CCI Approval For Viacom18-Star India Merger

Reliance Industries Seeks CCI Approval For Viacom18-Star India Merger