The IT raids on the Hetero drugs continued for the 4th day. Around 200 crore cash was seized from the Hetero which is unaccounted.
The money has been seized from a flat in Borabanda area and was deposited in the Bank.
The IT search is going on for the 4th day in about 50 locations across the country. Pen drives and data has been retrieved by the IT sleuths from many locations.
Some evidence has to be retrieved in electronic form. Income Tax officials conducted searches on the premises of Hetero Drugs in Hyderabad .
The officials carried out searches at the corporate office, production centre, and residences of the company’s CEO and directors.
Hetero, which has 36 state-of-the-art manufacturing facilities worldwide, manufactures products for major therapeutic categories such as HIV/AIDS, oncology, cardiovascular, neurology, hepatitis, nephrology etc. Besides, the pharma major has recently tied up with Russian Direct Investment Fund to manufacture Covid vaccine Sputnik V in India.
Hetero Pharma recently made headlines after the Drug Controller General of India issued Emergency Use Authorisation for the generic version of Tocilizumab in India.
