Tamil Nadu Pharma Firms Under ED Lens for Suspected Financial Irregularities
Chennai: Pharma firms in Tamil Nadu remain under the scanner as the Enforcement Directorate (ED) continued its searches for the second consecutive day on Wednesday, conducting raids across key areas including T Nagar, KK Nagar, Kilpauk, Purasawalkam, and Ambattur.
According to officials, the raids were carried out at premises linked to a few pharmaceutical companies as part of an ongoing investigation. The action follows the ED’s efforts to scrutinize alleged financial irregularities, to mention, large-scale illegal money transfers linked to pharmaceutical export companies.
The operation, which began early Tuesday, continued late into the night and resumed on Wednesday with multiple ED teams and strong police presence at the sites.
As per a recent media report in the Times of India, the probe was sparked by sudden, high-value fund movements running into hundreds of crores, suspected to be routed through export earnings. Officials are scrutinising seized documents.
The ED clarified that details of the financial irregularities will be shared after examination. The Enforcement Directorate is yet to release an official statement on the ongoing raids, reports Times of India,
