IT raids on Mankind Pharma premises in Delhi over tax evasion allegation

New Delhi: The Income Tax department on Thursday conducted searches on the premises of Mankind Pharma over allegations of tax evasion, official sources said.

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

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

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.

Email sent to the company for a reaction in the matter has not elicited any response.