The Income Tax department Wednesday conducted searches at the premises of Bengaluru-based pharmaceutical company Micro Labs Ltd, the manufacturers of the Dolo-650 tablet that was widely used by COVID-19 patients during the last over two years, on charges of alleged tax evasion.
A team of more than 20 officers attached to the I-T department conducted the raids on the office of the Bengaluru-based pharmaceutical company located on the Race Course Road
Sources in the I-T department said that the simultaneous raids were conducted in 40 locations by 200 officers across the country, 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 PTI has sent queries on the action to the company and a response is awaited.
Some other linked locations of the company in other cities and those of its promoters and distributors are also being covered, they said.
In the words of the company, Dolo-650 is “virtually a household name across the country”.
The company website showcased a news article, published in February, on its website that said: “The company has sold 350 crore tablets (of Dolo-650) since the Covid-19 outbreak in 2020, and earned revenues of ₹400 crores in a year.”
About Company
The company said on its website that it was engaged in the making and marketing of pharmaceutical products and APIs (Active Pharmaceutical Ingredients) and has 17 manufacturing units across the country apart from conducting business overseas.
Its major pharma products are Dolo-650, Amlong, Lubrex, Diapride, Vildapride, Olmert, Avas, Tripride, Bactoclav, Tenepride-M, and Arbitel.
Dolo-650, an analgesic (pain killer) and antipyretic (fever-reducing) was being prescribed by doctors and medical shop owners for coronavirus patients to reduce pain and fever, common symptoms caused by Covid.
Micro Labs produces Dolo-650, a pill to manage fever that has triggered outrageous sales and a deluge of memes due to its wild popularity. Surana is a 30-year pharma veteran who joined the family business and took over operations in 1983.
In the words of the company, Dolo-650 is “virtually a household name across the country”.
