Bengaluru: I-T raids Dolo-650 manufacturer Micro Lab office for alleged tax evasion

Team Udayavani, Jul 6, 2022, 3:53 PM IST

Image Source: www.1mg.com (for Representation)

Sleuths of the Income Tax Department on Wednesday conducted simultaneous raids on the office premises of Bengaluru-based pharmaceutical company Micro Labs Limited, which also manufactures Dolo-650

The pharma company which is based in Bengaluru is allegedly being investigated for tax evasion. As many as 200 officers conducted raids in 40 locations including New Delhi, Sikkim, Punjab, Tamil Nadu and Goa. The residences of Micro Labs CMD Dileep Surana, Director Anand Surana were also being raided, sources said.

The officers have collected vital documents from the Micro Labs Limited office on Race Course Road in Madhavanagar.

Amid the Covid 19 pandemic, the company registered sales of nearly 350 crore tablets and reported a revenue of Rs 400 crore in a year.

Experts quoted in the report that Dolo-650 is on its way to becoming synonymous with paracetamol as Xerox and Bisleri are for their respective brands. During the peak of Covid, Dolo-650 ruled social media trends and it was called India’s favourite snack.

With IANS inputs