No work came in the cupboard, the income tax department confiscated

A total of 550 crore benami assets of the pharmaceutical group were exposed

The Income Tax Department team was shocked to see what came out of the raid on a pharmaceutical group in Hyderabad by the Income Tax Department team. During the investigation, the Income Tax Department seized cash of about Rs 142 crore from the Pharma Group. All this money was kept hidden in cupboards and lockers. According to an estimate, so far the benami assets of Pharma Group worth Rs 550 crore have been unearthed.

According to the Income Tax Department, this is the biggest confiscated amount of this financial year. Let us tell you that on October 6, the Income Tax Department had raided various groups in 6 states. In which about Rs 142 crore was confiscated from the pharmaceutical group of Hyderabad and Telangana. The company is associated with the Pharmaceutical Group Intermediates, Active Pharmaceutical Ingredients (APIs) and Formulations.

They had great success in 50 sites killed in 6 states by the size department. Information about all these places was received by the Income Tax Department by their spies. Apart from accounts and cash, the Income Tax Department had received many evidences in the form of digital media, pen drives and other documents from all these places.

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