Income Tax raid on Micro Labs manufacturer of Dolo 650
Sources said that the raids were being conducted in connection with the evasion of tax.
Bengaluru: The Income Tax Department conducted raids on the office of popular drug Dolo-650 manufacturer Micro Labs Limited located here on Wednesday.
A team of more than 20 officers attached to the I-T department conducted the raids on the office of the Bengaluru-based pharmaceutical company located on the Race Course Road
Sources in the I-T department said that the simultaneous raids were conducted in 40 locations by 200 officers across the country, including New Delhi, Sikkim, Punjab, Tamil Nadu and Goa. The residences of Micro Labs CMD Dileep Surana, Director Anand Surana were also being raided, sources said.
The officers have collected vital documents from the Micro Labs Limited office on Race Course Road in Madhavanagar.
Sources said that the raids were being conducted in connection with the evasion of tax.
Read also: Govt picks top 300 drug brands including Dolo, Saridon, FabiFlu to issue unique QR code
Sources also said that the company has struck gold in successive waves of Covid-19 pandemic. The company has sold 350 crore tablets since the Covid-19 outbreak in 2020 and earned revenues of Rs 400 crore in a year crushing all rivals, sources said. The sales of Dolo pill broke all records.
Experts quoted in the report that Dolo-650 is on its way to becoming synonymous with paracetamol as Xerox and Bisleri are for their respective brands. During the peak of Covid, Dolo-650 ruled social media trends and it was called India's favourite snack.
Read also: These 300 medicines have been finalised for QR code
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.