During the IT raid, Rs. Officers surprised to see Rs 12 crore cash

Hyderabad, Ta. 11

The Income Tax Department raided the Hetero Pharma Group. The raiding officers were stunned when Rs 12 crore in cash was found in the office vaults. The company exports most of its products to the US, Europe, UAE and other African countries. The income tax department raided about 50 places in nine states.

Places where financial books and another set of money were found were also identified during the raid. Numerous pieces of evidence were found in the form of digital devices, pen drives, documents, etc. This evidence has been confiscated.

Evidence of false purchases from counterfeit companies was also found during the raid. Evidence of payment for land purchase was also found.

The books of the company also identified the personal expenses and the land purchased below the respective government registration price. Several bank lockers have also been found during the raid. Out of which 12 lockers are working.

According to the CBDT, a leading pharma group based in Hyderabad was raided on October 7. So far, anonymous income of Rs 200 crore has been detected.