The three-day Income Tax(IT) raids on Hetero Drugs offices and the residences of its directors have reportedly unearthed income of ₹ 550 crores and seized over ₹ 142 crore cash. While over 50 locations across six states were under the scanner, officials confirmed that several bank lockers have been found- out of which 16 lockers have been operated.
In an official statement, officials confirmed that incriminating evidence in the form of digital media, pen drives, documents, etc. have been found and seized. Further investigations and quantification of undisclosed income detected is in progress, it added.
Hetero shot into the limelight after the group signed several agreements and undertook the development of various drugs such as Remdesivir and Favipiravir to treat COVID-19. It can be noted that Hetero Drugs is one of the companies named in the charge sheet filed by CBI against Andhra Pradesh Chief Minister YS Jaganmohan Reddy in illegal assets and quid pro quo cases.