The Income Tax Department raided the Hetero Pharmaceutical Group and everyone was shocked to see what happened during this period. In fact, the officers who raided here were surprised when they found Rs. 142 crores lying on the shelves of the cash office. Yes, you must have lost consciousness when you heard it, but it's true. The company is said to export most of the products abroad i.e. USA, Europe, Dubai and other African countries. In fact, the Income Tax had conducted search operations at about 50 places in six States. During the search, the hideouts where books of accounts and another set of cash were found were identified.
During this period, several shreds of evidence have been found in the form of digital equipment, pen drives, documents etc. There was also a shocking revelation about the irregularities in the purchases made by fake and non-existent companies during the raids. Not only that, evidence of payment for the purchase of land was also found and many other legal issues were also identified. The list includes personal expenses in the company's books and land purchased below the respective government registration price.
Giving details about the case, the official said that during the search, several banks have been found, out of which 16 are operational. On the other hand, the Central Board of Direct Taxes says that a search operation was launched on October 6 on a major pharmaceutical group based in Hyderabad and an unaccounted income of about Rs 550 crore has been detected so far. He also said further investigations are on to ascertain undisclosed income.