Income Tax officials conducted searches at the premises of leading pharmaceutical company Hetero Drugs in Telangana and Andhra Pradesh.
According to IT officials, searches have been completed at the homes of CEOs, directors and key employees. The searches were likely to continue on Friday as well. It is learned that over Rs 100 crore cash has already been seized in two and three areas.
IT officials said they are looking into the details. Authorities have not yet revealed the details. It is suspected that the members of the India-based pharmaceutical company were evading taxes.
Hetero, 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.
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