HYDERABAD: The Enforcement Directorate (ED), Hyderabad Zonal Office, has filed a prosecution complaint before the Special PMLA Court against M/s Lucent Drugs Pvt. Ltd. and others under the provisions of the Prevention of Money Laundering Act (PMLA). The agency stated that the court took cognisance of the complaint on August 6.
The ED initiated an investigation based on a complaint filed by the Narcotics Control Bureau (NCB), Bengaluru Zonal Unit, under Section 36A of the NDPS Act, 1985, for contravention of psychotropic substance regulations, illegal exports, violation of orders issued under the NDPS Act, and forgery of records and documents related to various export authorisations undertaken by M/s Lucent Drugs Pvt. Ltd., its Managing Director Vinod Jain, Associate Vice President Devarasetty Sai Vikas, Logistics and Sales Executive Gangula Eswara Rao, and others.
The investigation revealed that the firm was engaged in the manufacture and export of Tramadol to overseas clients, including those based in Pakistan. Initially, the company obtained a No Objection Certificate (NOC) from the Central Bureau of Narcotics to export Tramadol to Pakistan. However, this approval was later cancelled.
To circumvent the order, the accused allegedly re-exported 13,800 kg of Tramadol, valued at approximately Rs 4.12 crore, to Pakistan through their overseas client M/s CHR Olesen Pharmaceuticals of Denmark, and 5,000 kg, valued at approximately Rs 1.34 crore, through M/s SM Biomed of Malaysia.
As a result of the illegal exports to Pakistan, M/s Lucent Drugs Pvt. Ltd. received proceeds of crime totalling Rs 5.46 crore in its bank accounts. The ED investigation further revealed that these proceeds were intermingled with the company’s regular business operations and projected as legitimate sales revenue from other countries.
Earlier, the ED had attached immovable properties, including a building and factory premises worth Rs 5.46 crore, belonging to the firm.