The Income Tax department, on Wednesday, raided the Bengaluru office of popular drug Dolo-650 manufacturer Micro Labs Limited.
The raids were carried out by a team of more than 20 officers from the I-T department on the Race Course Road office of the Bengaluru-based pharmaceutical company. According to I-T department sources, 200 officers from across the country conducted simultaneous raids in 40 locations, including New Delhi, Sikkim, Punjab, Tamil Nadu, and Goa. The homes of Micro Labs CMD Dileep Surana and Director Anand Surana were also raided.
The officers went to the Micro Labs Limited office on Race Course Road in Madhavanagar and collected important documents.
The raids were carried out in connection with the evasion of tax evasion, sources added.
As per sources, the company has struck gold in successive waves of the Covid-19 pandemic. The company has sold 3500 million tablets since the Covid-19 outbreak in 2020 and earned Rs 400 crore in revenue in a single year, crushing all competitors. Dolo pill sales broke all previous records.
Experts quoted in the report that, Dolo-650 is on its way to becoming synonymous with paracetamol in the same way that Xerox and Bisleri are for their respective brands. Dolo-650 ruled social media trends during Covid’s peak, and it was dubbed “India’s favourite snack.”