Twitter Is Shocked To See The Amount Of Money Found After An IT Raid On A Pharma Company In Hyderabad
Tuesday, October 12, 2021 IST
However, a picture apparently from this raid is doing the rounds and it has caught a lot of attention. The picture shows a cupboard filled with wads of cash.
The income tax department claimed to have found unaccounted income to the extent of ₹550 crores and seized unexplained cash amounting to ₹142.87 crores from a Hyderabad-based major pharmaceutical group during a series of raids conducted on Wednesday.
An official release from the income tax department said the pharmaceutical group is engaged in the manufacture of intermediates, Active Pharmaceutical Ingredients (APIs) and formulations. Most of the products are exported to the USA, Europe, Dubai and African countries, the release said.
However, a picture apparently from this raid is doing the rounds and it has caught a lot of attention. The picture shows a cupboard filled with wads of cash.
Twitter is in splits after seeing a locker full of cash. Many even wondered where have they kept their clothes.
Despite the fact that the department did not mention the name of the pharmaceutical group, an official familiar with the development disclosed it as Hetero Drugs, which is the first pharmaceutical company in India to launch the generic version of Remdesivir injection, Covifor, used in the treatment of Covid-19.
The Hetero Group is promoted by B Parthasarathy Reddy, a member of the Tirumala Tirupati Devasthanams trust board. He was also one of the accused in the quid pro quo case being probed by the Central Bureau of Investigation against YSR Congress party president and Andhra Pradesh chief minister Y S Jagan Mohan Reddy.
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