Mumbai: Pharmaceutical company Akums Drugs and Pharmaceuticals Ltd on Thursday (January 23) announced that the Income Tax (I-T) Department conducted a search and survey operation at its offices, manufacturing units, and the residences of its managing directors and chief financial officer.
The I-T Department’s search operation took place between January 15-21, 2025. During this period, the I-T officials sought various clarifications and details from the company, to which Akums Drugs extended full cooperation.
“The IT Department conducted a search under the Income Tax Act, 1961 at the offices and manufacturing units of the Company, its subsidiaries and the residences of the managing directors and chief financial officer of the company from January 15, 2025, till 11:00 pm on January 21, 2025,” Akums Drugs and Pharmaceuticals said in a regulatory filing.
The company has not received any written communication from the I-T Department regarding the outcome of the search or any alleged violations/ contraventions. Additionally, no financial demand has been raised by the department so far.
“The company extended full cooperation to the officials of the IT Department during the search and responded to all clarifications and details sought by them,” it said.
Akums Drugs has stated that its business operations continue as usual, except for some minor disruptions during the search operation. “The business operations of the Company continue as usual except for some minor hiccups and no financial demand has been raised by the Deptt. so far,” it added.
