IT raids underway on Hetero Drugs in Hyderabad

Raids by the Income Tax Department on the offices of the Indian pharmaceutical company Hetero Drugs are underway in Hyderabad on Wednesday since morning.

Telangana: Income tax officials raided the premises of Indian pharmaceutical firm Hetero Drugs in Hyderabad on Wednesday. As per reports, various teams of IT officials are carrying out searches at the firm's corporate office in Sanathnagar and its production centres located in Jeedimetla.

Searches are also underway at the offices and residences of Hetero CEO and directors.

Around 20 special teams are participating in the inspection. IT officials said that the raids were being held as differences were noticed between Income Tax paid by Hetero and related transactions.

It is learnt that the raids will be on for today and tomorrow also. More details are awaited...