Dolo-650 manufacturer faces raids by I-T dept in tax evasion case

A team of more than 20 officers associated with the I-T dept conducted the raids on the pharma company's Race Course Road office

The Income Tax department raided the office of the manufacturer of popular drug Dolo-650, Micro Labs Limited, located in Bengaluru, on Wednesday. Dolo-650 tablet became a popular drug after its widespread use by Covid-19 patients over the last two years. The pharmaceutical company faces allegations of tax evasion.

Officials at the Income Tax department have said that it is now looking at pharma company's financial documents, balance sheets and business distributor networks as part of their searches.

A team of more than 20 officers associated with the I-T dept conducted the raids on the Race Course Road office of the drug manufacturer. According to PTI, sources in the I-T department said that simultaneous raids were conducted at 40 locations by 200 officers across the country, including New Delhi, Sikkim, Punjab, Tamil Nadu and Goa. Sources said that the residences of Micro Labs CMD Dileep Surana and Director Anand Surana were also raided. 

The company had struck gold in successive waves of the Covid-19 pandemic. It sold 3.5 billion tablets since the Covid-19 outbreak in 2020 and earned revenues of Rs 400 crore in a year, with Dolo-650 sales breaking all records.

The company on its website mentioned that it was engaged in the making and marketing of pharmaceutical products and has 17 manufacturing units across the country apart from its business overseas.