I-T Department scanner on Unity Infraprojects, Aurobindo Pharma

Mumbai based engineering and construction firm Unity Infraprojects and Hyderabad -based Aurobindo Pharma came under the income tax department's scanner on Friday as revenue authorities conducted twin search operations on both the firms on the premise of alleged tax evasion, three individuals close to the development told ET NOW. ET NOW was the first to report the development.

" Around 10 official and residential premises of Unity Infra are being covered as part of the probe in Mumbai", said an official privy to the developments. Unity Infra shares had surged in Thursday morning trade after the company announced that it had bagged two orders worth Rs 485.42 crore from state-run firms HSCC and Rites Ltd.

The search operations on Aurobindo Pharma were carried out ahead of the company's board of directors meeting to consider the third quarter results. "The Board Meeting proposed on February 10 to consider inter alia the Un-Audited Financial Results of the Company for the quarter ended December 31, 2011 has been postponed due to unavoidable circumstances. The meeting is now scheduled to be held on the February 13", the company said in a statement.

"Both search operations are likely to continue overnight", said another official close to the development,

ET NOW made repeated attempts to contact company officials from both Unity Infra and Aurbindo Pharma, but they remained unavailable for an official comment. Post the news of the IT raid operations, Aurobindo Pharma shares closes down 5.67% at the end of days trade, while Unity Infra shares slipped by 0.64%