Income tax dept raids Hyderabad based pharmaceutical company, incriminating evidence found

The Income Tax department conducted searches on a pharmaceutical company in Hyderabad named Hetero Drugs and seized incriminating documents on Wednesday, sources told ANI.

As per sources, a number of incriminating documents, loose papers, digital evidence have been found and seized. The evidence contains detailed records of the group's unaccounted transactions spread across multiple financial years. The search operation has resulted in the detection of unaccounted transactions.

According to sources, searches were conducted at the office and residence of the Company directors.

The search and seizure operation is still continuing and further investigations are in progress.

( With inputs from ANI )