Here's why I-T conducted raids on Apollo Hospitals

The Income Tax department on Tuesday conducted searches in multiple cities on the premises of popular health-care chain Apollo Hospitals on charges of alleged tax evasion.

"Yes. About 50 teams have undertaken the raids," a top official told PTI. The company confirmed the development.

"The I-T department visited our hospitals on Tuesday and we extended our complete cooperation to them. We have always conducted ourselves with the highest degree of diligence and would like to reassure our patients, shareholders and stakeholders that we shall uphold their trust and faith in us," a Apollo Hospitals spokesperson said in a statement.

Chennai-based Apollo Hospitals, founded by Dr Prathap C Reddy, is one of the popular and largest healthcare service providers in the country, with presence in over 60 locations and about 7,500 beds. Officials said the searches were conducted in various cities including in Delhi and were launched by the I-T department investigations wing.

They said some documents relating to company's businesses and patient services logs were seized and are been looked into.