The company’s top management and senior executives were under the lens of the I-T department. Simultaneous raids were conducted at 40 places across the country.
The Income Tax (I-T) department has raided the makers of Dolo 650 tablet in Bengaluru for alleged unaccounted wealth. Dolo 650, a paracetamol that was in widespread use last year during the COVID-19 pandemic, is made by Micro Labs.
The company’s top management and senior officials were under the lens of the IT department, which covered the company’s CMD Dilip Surana and director Anand Surana. Over 20 officials raided the pharma company’s office at Race Course Road in Bengaluru.
Simultaneous raids were conducted at 40 locations across the country including Delhi, Sikkim, Punjab, Tamil Nadu and Goa. ALSO READ: ‘Dolo 650’ trend on social media as India sees COVID surge, Dolo 650 reportedly registers sales of ₹567 cr since March 2020, in the process from Calpol, a leading brand driving this segment.
Paracetamol was in some ways the ‘Atmanirbhar’ version (if one may say so) of a pharmaceutical product. The Dolo 650 sold more than its closest competitor, the Calpol, GSK’s stable of products.
Pharmaceuticals, a multinational firm. The pan-India market for Paracetamol in India was around Rs 3,700 crore.