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"Raids began Tuesday early morning. Search operations are still going on at Claris Lifesciences and connected offices of the company," the official said.
The official declined to reveal the exact nature of raids and also did not inform whether unaccounted cash was seized during the operation.
Meanwhile, the Bombay Stock Exchange (BSE) has sought clarification from the company with regards to the raids by I-T department.
Claris Lifesciences Limited is a multi-business enterprise and the holding company of Claris Injectables, a wholly-owned subsidiary dealing in specialty injectables business.
The Ahmedabad-based company manufactures and/or markets products across multiple delivery systems, markets, and therapeutic segments including anesthesia, blood products, anti-infectives, and plasma volume expanders, the company's website said. A significant majority of these products are generic drugs, capable of being directly injected into the human body, predominantly used in the treatment of critical illnesses.
The company's customer base comprises government and private hospitals, aid agencies, and nursing homes.
Shares of the company closed at Rs 238.40 per equity share on Tuesday, down 4.75 per cent from previous close of Rs 250.30 apiece.
