Rs 400 Cr Scam In Hyderabad Based Pharma Company

[Anta Assamey]

The Income Tax Department carried out search and seizure operations on February 24 on a major Pharmaceutical group based out of Hyderabad.

This Pharmaceutical group is engaged in the business of manufacturing of intermediates, Active Pharmaceutical Ingredients (APIs) and formulations.

Majority of the total manufactured products are exported to various countries i.e. USA / Europe.

The search operation was carried out at about 20 locations in 5 States. Searches have resulted in seizure of cash amounting to Rs 1.66 crore.

During the search action incriminating evidence in the form of digital media, pen drives and documents have been found and seized.

Incriminating digital evidences were gathered from SAP @ ERP software maintained by the assessee group, the department said in a statement.

During these searches, issues relating to purchases made from bogus and non-existent entities, artificial inflation of certain heads of expenditure, alongwith suppression of receipts relating to by-product sale were detected.

Further, evidence of on-money payment for purchase of lands was also found. Multiple other legal issues were also identified such as personal expenses being booked in the company's books and land purchased by related concerns / individuals below govt. SRO value, the I-T department said.

The search has led to unearthing of evidence relating to unaccounted income of around Rs. 400 crore out of which the assessee group has admitted an additional income of Rs. 350 crore. Further investigations are in progress.

[Telugodura456]

In a month Adani may be buying the company dead cheap.

[Spartan]

Aurbindo..

ikkada target chesi..AP lo vache contract ki nokkedam ani Adani plan..

[Anta Assamey]

9 minutes ago, Spartan said:

Aurbindo..

ikkada target chesi..AP lo vache contract ki nokkedam ani Adani plan..

Sr. Vice President Global regulatory affairs ki call chesi kanukovali ento katha ... 

[Spartan]

1 minute ago, Anta Assamey said:

Have to find out about this... Vice President of R&D is someone I know who handles whole of India and China for Aurobindo .... Will find out more news from him ... 

Agreed

[jawaani_jaaneman]

Adani gadiki ie mandu golila dandha deniki ? Hyd Airport vundi kada ready ga...

[Anta Assamey]

2 minutes ago, Spartan said:

Agreed

Tappu cheppanu ... he is Sr. Vice President Global Regulatory Affairs...

[Somedude]

8 minutes ago, Spartan said:

Aurbindo..

ikkada target chesi..AP lo vache contract ki nokkedam ani Adani plan..

Kakapovocchu. AP lo vacche projects construction related. Adani construction projects lo avi complete ayyaka kontha icchi deal set chesukovadam. The real revenue comes after the construction is completed. the govt agrees for the company to earn their investment for certain years and then maintenance earnings after that.

Nakendhuko idhi BaratBio emo doubt koduthundhi. Recent vaccination tho manchi oopu lo undhi company. Okavela Adani angle ne undi unte, he might be interested in entering into Pharma. India lo evaru Pharma lo enter avvali anna Hyd lo ki ravalasindhe.

 

[Amrita]

400 cr ah ..oka 50 kotlu ivvachu ga naku. My life will be set. Rest of the life i will enjoy 

[Spartan]

13 minutes ago, Somedude said:

Kakapovocchu. AP lo vacche projects construction related. Adani construction projects lo avi complete ayyaka kontha icchi deal set chesukovadam. The real revenue comes after the construction is completed. the govt agrees for the company to earn their investment for certain years and then maintenance earnings after that.

Nakendhuko idhi BaratBio emo doubt koduthundhi. Recent vaccination tho manchi oopu lo undhi company. Okavela Adani angle ne undi unte, he might be interested in entering into Pharma. India lo evaru Pharma lo enter avvali anna Hyd lo ki ravalasindhe.

 

edo port construction Aurbindo ki vellindi kada...maintanence Adani teseskuntadu..adi plan.

[Somedude]

6 minutes ago, Spartan said:

edo port construction Aurbindo ki vellindi kada...maintanence Adani teseskuntadu..adi plan.

Adhi theesukovali ante ippude enter kaadu.

[MiryalgudaMaruthiRao]

[manadonga]

Bharat biotech lo cheap ga 1.66 cr dorakadu  and modi support vundi 

mostly edo chinna company like 1000 cr turnover 

 

[Somedude]

1 minute ago, manadonga said:

Bharat biotech lo cheap ga 1.66 cr dorakadu  and modi support vundi 

mostly edo chinna company like 1000 cr turnover 

 

Kavocchu. Akkada Pharma company annaru. Bharat Biotec - Biotec company. I am not sure if they are into Pharma (drug manufacturing and related)

[Hydrockers]

Aurabindo iathe yellow media rechipoyedi

Bharath bio tech iathe sakshi rechipoyedi 

So edo small company emo