Pharma firm assets attached for exporting opioids to Pakistan
HYDERABAD: The Hyderabad zonal office of the Enforcement Directorate has provisionally attached immovable properties belonging to Lucent Drugs Pvt Ltd. worth Rs 5.67 crore under the provisions of the Prevention of Money Laundering Act, 2002. The company is facing charges of illegally exporting Tramadol.
The attached assets include land, building and factory premises belonging to Lucent situated in Sangareddy district.
The agency began its investigation on the basis of a complaint filed by the Narcotics Control Bureau, Bangalore Zonal Unit under Section 36A of the NDPS Act, 1985 for illegally exporting Tramadol from India in contravention of the Act, and for forgery of records and documents relating to the various export authorisations.
The investigation revealed that Lucent was manufacturing and exporting Tramadol to its overseas clients, including those based in Pakistan. The company initially got NOC from the Central Bureau of Narcotics to export Tramadol to Pakistan, but this permission was not renewed.
The promoters and directors of Lucent illegally re-exported 13,800 kg Tramadol valued at Rs 4.12 crore to Pakistan through CHR Olesen Pharmaceuticals, a Denmark-based company, and another 5,000 kg valued at Rs 1.33 crore through SM Biomed, a Malaysia-based company, and received export proceeds.