MUMBAI : Pharmaceutical major Cipla Ltd confirmed that Income-Tax Department officials were scrutinising company records at some of its premises.

“The Income Tax Department has been present at few of Cipla’s premises today to verify our records. Cipla strictly abides by the law and pays all taxes as required by all relevant central, state, and local departments,” the company said in a statement.

The confirmation came after some television channels reported that tax officials had raided company offices.

“We regard these visits as routine and as expected are cooperating fully with the officials,” the company said. Cipla shares ended down 1.31% at Rs 380.45 on the NSE.     -Cogencis

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