Indian pharmaceutical company Alkem Laboratories under investigation for tax evasion and fraud, including bogus deductions and payments to doctors.
Alkem Laboratories, a top Indian pharmaceutical company, is under investigation for major tax evasion and fraud, including bogus deductions worth around Rs 1,000 crore and payments to doctors in exchange for prescription recommendations. The Income Tax Department discovered the alleged misconduct during raids and surveys in September. This has led to a 13% drop in the company's share price and a 6-month increase of only 47.40%.
February 26, 2024
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