Hyderabad-based pharma firm smuggles Tramadol to Pak, ED attaches assets worth Rs. 5.67 crore
Hyderabad: The Directorate of Enforcement (ED) has provisionally attached immovable properties of the city-based pharmaceutical company Lucent Drugs Pvt. Ltd. in connection with the alleged export of Tramadol to Pakistan.
The pharma company has allegedly violated the anti-money laundering laws by exporting over 18,000 kg of Tramadol illegally to the neighbouring country. It is pertinent to note that supply of Tramadol drug is tightly controlled in India as it is often misused by terrorist organisations.
The federal agency has attached the assets worth Rs 5.45 crore under the Prevention of Money Laundering Act (PMLA), 2002. The immovable assets include land parcel, building and factory premises belonging to the company.
The agency’s action comes following a complaint lodged by the Narcotic Controls Bureau (NCB), Bangalore zonal unit under section 36A of the NDPS Act, 1985. The complainant has accused Lucent Drugs of flouting psychotropic substances regulation laws.
The pharma company situated in Sangareddy district received export permission via a no-objection certificate from the Central Bureau of Narcotics and NOC was later revoked. However, the promoters and directors of the company continued to illegally re-export 13,800 kg of Tramadol, worth approximately Rs. 4.12 crore to Pakistan through Denmark-based M/s CHR Olesen Pharmaceuticals and additional 5,000 kg, with a value of Rs. 1.33 crore via Malaysia-based M/s SM Biomed firm and received illicit export funds into the bank accounts, the ED said.
