Indian Tax Authorities Raid Proprietary Trading Firm Graviton

India’s tax authorities have raided the local offices of Graviton Research Capital LLP as the country steps up scrutiny of trading firms.

The raid at Graviton’s offices near New Delhi began at the start of this week and is set to conclude Thursday, according to people familiar with the operation who asked not to be identified because the matter is private. Officials seized documents and sought access to data, the people said.

“Graviton Research Capital operates with the highest standards of financial integrity and in full compliance with all applicable laws and regulations,” the firm said in a statement. “Recent ...