The Income Tax Department has raided the premises of Mankind Pharma on charges of tax evasion. According to officials, the documents recovered from the company's premises located in Delhi and surrounding areas are under investigation. Company officials are also being questioned on the basis of documents recovered after the raids that began on Thursday morning. This action of the Income Tax Department against Mankind Pharma has been taken just two days after the company was listed on the stock market.
During the BSE filing, the company has stated that it is fully cooperating with the officials of the Income Tax Department. The company has informed that the Income Tax Department is conducting raids at some of the locations and plants of the company and its subsidiaries. The company has informed that it is co-operating with the officials of the Income Tax Department and its subsidiaries and responding to queries raised by them. The company has also claimed that the action of the Income Tax Department will not affect the operations of the company. Mankind Pharma came up with its IPO this year. The company's Rs 4,326 crore IPO was subscribed 15.32 times last month.