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Tuesday, May 21, 2024

Mankind Pharma's Delhi facilities are raided by the I-T Dept. on suspicion of tax evasion


In response to charges of tax avoidance, the Income Tax agency searched Mankind Pharma's offices on Thursday, according to official sources.

As part of the early-morning operation, they added, searches are being conducted on the company's buildings in Delhi and neighboring places, papers are being verified, and individuals are being interrogated.


PTI's emails and questions to the business went unanswered.

On Tuesday, the business made its stock market debut. This year saw the start of its IPO as well. Last month, 15.32 times as many shares were subscribed to for Mankind Pharma's Rs 4,326 crore first share offering.

Mankind Pharma was founded in 1991 and specializes in the development, production, and marketing of a wide variety of pharmaceutical formulations for both acute and chronic conditions as well as a number of consumer healthcare products.

The company's product line includes Gas-o-Fast sachets, Prega News pregnancy diagnostic kits, and MANforce condoms.


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