Income Tax Department Raids Akums Drugs: Ongoing Investigation

Akums Drugs and Pharmaceuticals has been subjected to a search by the Income Tax Department from January 15-21 across its various premises, including offices and residences of key personnel. The company has fully cooperated with authorities, although no assessment order or formal outcome has been communicated yet.

The Income Tax Department has conducted extensive searches on Akums Drugs and Pharmaceuticals, targeting multiple locations of the company and its executives. The raid, which spanned from January 15 to January 21, included the firm's offices, manufacturing units, and the homes of its managing directors and chief financial officer.

According to an official filing by the company, Akums Drugs and Pharmaceuticals ensured complete cooperation with the IT Department, responding promptly to all requests for clarification and information. Despite the thorough search, the company has not yet received an assessment order concerning the findings.

As of now, Akums officials report not having any written communication regarding the implications or results of the operation. The firm remains in anticipation of further updates from the authorities, amid an atmosphere of scrutiny within the pharmaceutical industry.

(With inputs from agencies.)