IT officials raid Aurobindo Pharma units
HYDERABAD: Valuable documents and records of Aurobindo Pharma were seized by Income Tax officials on Friday during day-long raids on the company's units across the state and other places in India.
According to sources, the IT officials conducted simultaneous raids on as many as 15 units belonging to the pharma company located in Bachupally IDA locality in Rangareddy district and its corporate office in Ameerpet.
The simultaneous raids on the company's units had significance as they were carried out ahead of the company's board of directors' meeting to consider the unaudited financial results for the quarter ended December 31, 2011.
A few senior officials of the Income Tax department led by Subrahmanyam also conducted raids on four units of the company located in Boratla, Gundla Machunur, Gaddipotharam and Pashamylaram localities in Medak district.
It is reported that the IT officials seized some valuable documents of company units and records during the searches. The sleuths also took some oral statements from officials of the company. The searches, which began on Friday morning and they are likely to continue on Saturday.
Aurobindo Pharmaceuticals is also said to be one of the firms that invested into Kadapa MP YS Jaganmohan Reddy's companies.
The Central Bureau of Investigation which is probing into Jagan's alleged illegal assets case had listed the pharma company as one of the companies out of 74 which invested in Jagan's business firm.
News Posted: 11 February, 2012
Be first to comment on this News / Article!