ED attaches Telangana pharma firm assets for illegal export of drugs
New Delhi: The Enforcement Directorate Thursday has attached assets of a Telangana-based pharmaceutical company worth Rs 5.67 crore for illegally exporting over 18,000 kg of pharma drugs to Pakistan.
The assets were attached under the anti-money laundering law.
A provisional order under the Prevention of Money Laundering Act (PMLA) was issued on Wednesday against the company Lucent Drugs Pvt. Ltd. based in the Sangareddy district of the state.
The attached assets include land, building and factory premises of the company and these are valued at Rs 5.67 crore, the federal probe agency said in a statement.
The company or its directors could not be contacted immediately for their response to the ED action, PTI said.
The money laundering case stems from a complaint filed by the Narcotics Control Bureau (NCB) against the company for "contravention" of psychotropic substances regulation laws, illegal export of Tramadol drug and forgery of documents relating to various export authorisations, the ED said.
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