I-T raids on Aurobindo Pharma
Ahead of its board meeting to finalise third quarter results, the Income Tax (I-T) officials raided Aurobindo Pharma facility here.
The department conducted simultaneous searches in offices and manufacturing facilities of city-based Aurobindo Pharma. The searches assumed significance as these were carried out ahead of the company’s board of directors meeting here to consider the unaudited financial results for the quarter ended December 31, 2011 ( Q3).
The searches, which began in the morning, may continue on Saturday also, said sources in the I-T Department, adding that raids were under way at 13 factories of Aurobindo and their head office in Hyderabad.
In a statement to BSE, the Aurobindo spokesman said the company’s Board Meeting on Friday was being postponed to February 13 to consider the un-audited financial results of the company for the quarter ended on December 31, 2011.
