07 July 2022 | News
Raid conducted across 40 locations in India
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The Income Tax (IT) department came knocking at the doors of Bengaluru-based Micro Labs for alleged tax evasions. It may be noted that Micro Labs is the manufacturer of the Dolo-650 tablet, used by COVID-19 patients and became quite popular.
The IT dept is checking the financial documents, balance sheets and business distributor networks of the company as part of the searches. More than 20 IT officials are conducting search operations.
According to the sources in the IT department, simultaneous raids were conducted in 40 locations by 200 officers across the country, including New Delhi, Sikkim, Punjab, Tamil Nadu and Goa. There is news that the residences of Micro Labs CMD Dileep Surana, Director, Anand Surana have been raided.
There are reports that the company has sold 350 crore tablets and earned revenues worth Rs 400 crores since the outbreak of COVID-19 outbreak in 2020.