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I-T raids on Emami premises

The Income Tax department on Tuesday carried out search and seizure operations at the offices and production facilities of homegrown cosmetics major Emami Limited.

Confirming the nation-wide operations, an official of the I-T department said that the raids started on Monday were continuing on Tuesday. However, he declined to disclose the value of seizures.

The Kolkata-based company came to the limelight after signing a high-profile endorsement deal with film star Madhuri Dixit, who was roped in to promote its range of cosmetic products.

According to reports, I-T sleuths carried out the operation at nearly 30 Emami offices and production facilities located at Kolkata, Chennai, Pondicherry and Balasore.

The I-T personnel raided the Kolkata residences of the two promoters of Emami, R S Agarwal and N R Goenka.

Emami Limited has interest in FMCG, paper, healthcare as well as writing instruments and two of its leading cosmetic brands, Emami and Himani are well established in the market.

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