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News of the day: Income-Tax Department raids Divi's Lab premises

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Drug firm Divi's Laboratories Tuesday said income tax department has conducted raids at its premises, including its head office and manufacturing sites, between February 14-18.

The company said the raids were conducted by the officials of Income-Tax Department under Section 132 of the Income-Tax Act.

"The company has extended full cooperation to the officials during the search and provided all the information sought. The search operation concluded on February 18, 2019 and no irregularities have been found," Divi's Laboratories said in a regulatory filing.

Established in 1990, Divi's is a leading manufacturer of active pharmaceutical ingredients offering products in over 95 countries.

The company's shares were trading 0.66 per cent up at Rs 1,585 on the BSE.
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