WEB DESK
The Income Tax department yesterday conducted searches on the premises of Mankind Pharma over allegations of tax evasion, reports agencies quoting official sources said.
Searches were conducted on the company premises in Delhi and nearby locations, documents are being checked and people are being questioned as part of the action launched early morning, they said.
The company made its debut on the stock exchanges on Tuesday. It also launched its IPO this year. The Rs 4,326-crore initial share sale of Mankind Pharma received 15.32 times subscription last month.
Incorporated in 1991, Mankind Pharma 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.