Poonam Janeja, the wife of the chairman of Mankind Pharma, recently sold a property worth Rs 91 crore in Delhi’s Vasant Vihar. The deal comes shortly after the Income Tax department had conducted a tax raid on the company.
The property was purchased by three members of the Malhotra family - Dhruv Malhotra, Daksh Malhotra, and Ranjana Malhotra, under the banner of Everest Pressure and Vacuum Systems. The family paid a stamp duty of Rs 4.85 crore, The Economic Times reported on Sunday.
The estate has a plot area of 1,200 square yards, with the building itself being 1,501 square meters, a document detailing the transaction informed.
Earlier this month, Mankind Pharma launched an Initial Public Offering and made its stock exchange debut.
Merely two days after its stock market debut, the Income Tax department conducted a raid on the premises of Mankind Pharma over allegations of tax evasion. In addition to searching the premises, company executives were brought in for questioning. The company’s documents were thoroughly searched as well.
"We hereby inform you that the Income Tax Department is conducting a search at some of the premises/plants related to the company and some of its subsidiaries," the company said.
The pharmaceutical company stated in a Bombay Stock Exchange filing that it was offering “full cooperation” in the investigations.
“The officials of the company and its subsidiaries are cooperating with the officials of the Income Tax Department and are responding to the queries raised by them," the company said.
"Mankind Pharma Limited is an ethical and law-abiding Company and follows the best corporate governance practices. We are extending our full cooperation to the officials of the Income Tax Department in this regard," it added.
Vasant Vihar is no stranger to humongous property dealings. Back in 2021, during the second wave of the Covid-19 pandemic, the location saw a transaction worth around Rs 100 crore for a 2000-square-yard property.