Pharma unit raided, Rs 4 cr seized in Chandigarh

Tribune News Service

Chandigarh, December 14

The office of a Sector 9-based pharmaceutical company and its managing director’s (MD) house were raided by a team of the Income Tax Department and Rs 4 crore was seized.

Sources said the raid had been going on for the past 42 hours. I-T sleuths, led by Principal Director LK Aggarwal, Joint Director Ankur Alya and Deputy Director Robin Bansal, reached the office of Nectar Lifesciences and the house of its MD, Sanjiv Goyal, at 4.30 am on Sunday.

The raid was carried out in connection with a ‘benami’ land deal of 117 acres in Indore, Madhya Pradesh, according to sources. “Raids are being carried out at the house of company’s key person and its other employees in Delhi and Mumbai too,” the sources said.