Twitter Is Shocked To See The Amount Of Money Found After An IT Raid On A Pharma Company In Hyderabad
The Income Tax Department has detected "unaccounted" income of Rs 550 crore during a search and seizure operation carried out on a major pharmaceutical group based in Hyderabad on October 6.
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.
IT raid on a Pharma company in Hyderabad revealed this. I am assuming they have kept clothes in the locker pic.twitter.com/k15SnYdwNB
¡ª Gabbbar (@GabbbarSingh) October 10, 2021
Twitter is in splits after seeing a locker full of cash. Many even wondered where have they kept their clothes.
if they would have used 2k notes, 75% space they could have used for clothes.
¡ª Amal (@amalendukundu) October 10, 2021
silly chaps .
I live in Hyderabad, and i can say with 100% conviction raid any company, business you will easily find crores hidden in cupboards etc. including public listed companies.
¡ª Rahul (@Bankwalah) October 10, 2021
?? ???? almirah ?????? ?
¡ª B S Bedi (@Road2India) October 11, 2021
Demonetisation safal nahi hua
¡ª Manish Pandey (???? ???????) (@join2manish) October 10, 2021
Note ke rang aur aakaar badle
Logooon ki aadat aur vichaar nahi
I need just one bundle. Buss jyada mohmaaya nahi hain
¡ª Ekta S (@Ektashah27) October 10, 2021
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.
Building, coordinating and crafting engaging content for lifestyle brand 'Evolve' at Indiatimes. Successfully revamping the lifestyle section including topics such as mental health, relationships, self, skin care, music etc. I collaborate with experts from various fields to gather insights and create well-structured pieces.
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