The Income Tax department Wednesday conducted a search at the premises of the Bengaluru-based pharmaceutical company Micro Labs Ltd, the makers of Dolo 650 tablet that was widely used by COVID 19 patients during the last two years on charges of tax evasion.
Financial documents, balance sheets and business distributor networks of the company are being looked at as part of the search, according to officials.
The PTI has asked questions about the action and a response is awaited.
They said that some of the company's promoters and distributors are also covered in other cities and some of its distributors and promoters are also covered.
The company said on its website that it is engaged in the making and marketing of pharmaceutical products and Active Pharmaceutical Ingredients and has 17 manufacturing units across the country, apart from conducting business overseas.
Dolo 650, an analgesic pain killer and antipyretic fever-reducing, was prescribed by doctors and medical shop owners for coronaviruses patients to reduce pain and fever, common symptoms caused by Covid.
The company said that the company has sold 350 crore tablets of Dolo 650 since the Covid 19 outbreak in 2020, and earned revenues of Rs 400 crore in a year.