Income Tax Department has been carrying out search and seizure operations at Hetero Drugs, a Hyderabad-based API company for the last few days. Searches have resulted in seizure of unexplained cash worth Rs 143 Crore so far.
The unaccounted income unearthed is estimated to be around Rs 550 Crore till now. Different teams of I-T officials were carrying out searches at the corporate office and production centres of the company in Six states. Hetero has heavily exported drugs to other countries.
The company exports drugs to the US, Europe, Dubai and Africa. Pen drives, hard disks as well as electronic devices were seized during the raids. The department has found that some of the evidence had been destroyed by Hetero. Most were found to have made fake invoices. The company bought lands at many places using the money.
IT officials also found 16 bank lockers. Interestingly, the pharma major is one of the firms that has tied up with Russian Direct Investment Fund to manufacture COVID-19 vaccine Sputnik V in India.Follow Mirchi9 on Google NewsThis Week Releases on OTT – Check ‘Rating’ Filter
Hiring Content Writer: We are looking to hire a ‘Telugu’ content writer. Send your sample articles to [email protected]Don't MissInside Story: Who Prepared Pawan Kalyan's Speech?We media usually address Pawan Kalyan as Powerstar while writing film news and as Janasena...Don't MissVenkatesh And Rana Together For Netflix Web SeriesThe dream of Daggubati fans has finally come true as Rana and Venkatesh Daggubati are...Don't MissLove Story All set For Record-Breaking Openings!Love Story starring Naga Chaitanya and Sai Pallavi is undoubtedly the biggest Telugu release post...Don't MissList Of New Titles Premiering On OTT This WeekHere is the list of new titles premiering on top OTT platforms like Netflix, Amazon...Don't MissThree Different Targets For Love Story TrioNaga Chaitanya and Sai Pallavi starrer Love Story is all set to hit the silver...