Hyderabad, Feb 20 (IANS) The Enforcement Directorate’s Hyderabad Zonal Office has provisionally attached immovable properties worth Rs 5.67 crore of pharma company Lucent Drugs under the provisions of the Prevention of Money Laundering Act (PMLA), 2002 in the case of illegal export of painkiller Tramadol to Pakistan
The attached assets include land, building and factory premises belonging to Lucent Drugs Pvt Ltd situated in Telangana’s Sangareddy district, the ED said in a statement.
The ED initiated an investigation on the basis of a complaint filed by the Narcotics Control Bureau (NCB), Bangalore Zonal Unit, under section 36A of the NDPS Act, 1985 for contravention concerning psychotropic substances, their illegal export from India, contravention of orders made under the NDPS Act, 1985 and forgery of records & documents relating to the various export authorisations undertaken by Lucent Drugs.
The ED investigation revealed that Lucent Drugs has been in the business of manufacturing and exporting Tramadol to its overseas clients including those based in Pakistan. The company initially got a No Objection Certificate (NOC) from the Central Bureau of Narcotics to export Tramadol to Pakistan.
Afterwards, the Central Bureau of Narcotics did not approve any application for NOC for the export of Tramadol to Pakistan. However, the promoters and directors of Lucent Drugs illegally re-exported 13,800 kg of Tramadol valued at approximately Rs 4.12 crore to Pakistan through Denmark-based CHR Olesen Pharmaceuticals and 5,000 kg of Tramadol valued at approximately Rs 1.33 crore to Pakistan through Malaysia-based company SM Biomed and received the export proceeds.
“In this way, M/s Lucent Drugs Pvt Ltd generated and received Proceeds of Crime (POC) totalling Rs 5.46 crore (approx.) in its bank accounts as a result of the illegal export of Tramadol to Pakistan. Further investigation is under progress,” the ED added.
–IANS
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