IT raids at Hetero Drugs offices continues for second day

IT department officials are continuing raids for the second consecutive day on the leading pharma company Hetero Drugs.Income tax officials have been conducting searches at the Hetero Drugs offices in various locations and residences of company Directors since Wednesday morning.

Income tax officials on Wednesday conducted inspections in three areas, including Hyderabad.A team of about 20 members split into teams and are conducting raids at Hetero Drugs offices.

Also, on Thursday, Income Tax officials were conducting raids at the offices of the Hetero Drugs company.Income tax officials are conducting searches at the companys offices in Hyderabad, Visakhapatnam, Guntur and Vijayawada.

Officers are inspecting the homes of the directors and CEOs of the Hetero Drugs company.In addition to financial transactions, IT officials seized key documents related to IT returns.

During the Covid pandemic, the IT returns of the company were examined by the Income Tax department authorities.The IT officials are also conducting searches on the houses of Hetero Drugs directors Sandeep Reddy, Narasimhareddy, Vamsi Krishna, Parthasarathy Reddy and others.

More details on these raids are yet to be known.