Advertisement
Saturday, Oct 23, 2021
Outlook.com
Outlook.com

Income Tax Dept conducts searches at Hetero Group

Income Tax Dept conducts searches at Hetero Group
outlookindia.com
1970-01-01T05:30:00+0530
Hyderabad/New Delhi, Oct 6 (PTI): Income Tax department officials conducted simultaneous searches at offices and other facilities belonging to Hetero, a well-known pharmaceutical group, on Wednesday, official sources said.

The searches are being conducted at the firm''s headquarters, some of the manufacturing facilities and offices here and Visakhapatnam in Andhra Pradesh, they said.

"The department has recovered some documents and seized some computers hard disks which will be analysed if there is any possible tax evasion," the sources told PTI. Company officials could not be reached for their comment.

Hetero shot into the limelight after the group signed several agreements and undertook development of various drugs such as Remdesivir and Favipiravir to treat COVID-19.

Hetero is one of major global suppliers of APIs (including cytotoxics) to the pharmaceutical companies that manufacture formulations and new-generation products in India and abroad. The city-based Hetero has over 25 manufacturing facilities located in India, China, Russia, Egypt, Mexico and Iran.

Hetero last month said it had received Emergency Use Authorisation from the Drug Controller General of India (DCGI) for its biosimilar version of Tocilizumab for treatment of COVID-19 in hospitalised adults.

The Rs 7,500 crore pharma major is one of the firms that has tied up with Russian Direct Investment Fund to manufacture COVID-19 vaccine Sputnik V in India. PTI GDK NES

APR APR


Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI

More from Website

US: Secrecy Continues About Small Group Of Afghan Refugees Sent To Overseas Base In Kosovo

US: Secrecy Continues About Small Group Of Afghan Refugees Sent To Overseas Base In Kosovo

Human rights advocates raised concerns about the Afghans diverted to Camp Bondsteel in Kosovo over the past six weeks, citing a lack of transparency about their status.

Rajasthan Shuts Internet As 15 Lakh Candidates Appear For Patwari Recruitment Exam

Rajasthan Shuts Internet As 15 Lakh Candidates Appear For Patwari Recruitment Exam

The local business of taxi services, food aggregators, home delivery services which are 100 percent dependent on mobile internet has come to a standstill.

PM Modi To Meet Seven Indian Covid-19 Vaccine Manufactures

PM Modi To Meet Seven Indian Covid-19 Vaccine Manufactures

PM Narendra Modi will be meeting representatives of Indian Covid-19 vaccine manufactures, including Serum Institute of India, Bharat Biotech, Dr Reddy's Laboratories, Zydus Cadila, Biological E, Gennova Biopharma and Panacea Biotech.

More from Outlook Magazine

My Name Is Khan: The Face That Launched A Thousand Products

My Name Is Khan: The Face That Launched A Thousand Products

Behind SRK’s lover-boy image lies instability—sensitive to social, cultural and political change.

A Fanboy’s Bollywood: Before And After The Khans

A Fanboy’s Bollywood: Before And After The Khans

How the larger-than-life Hindi film hero of ­yesteryears gave way to the relatable charm of Shah Rukh and the other Khans.

A Passage To India: Shah Rukh Khan Through The Eyes Of His Greatest American Fan

A Passage To India: Shah Rukh Khan Through The Eyes Of His Greatest American Fan

Superstar Shah Rukh Khan has grown beyond the confines of Bollywood and India to find fame and fans worldwide, writes Beth Watkins.

Advertisement

Outlook Newsletters

Advertisement
Advertisement