Enforcement Directorate Seizes Lucent Drugs' Assets for Illicit Painkiller Exports to Pakistan
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Synopsis
The Enforcement Directorate has provisionally seized assets worth Rs 5.67 crore from Lucent Drugs for their illegal export of Tramadol to Pakistan. This action follows a complaint from the Narcotics Control Bureau, highlighting serious violations of drug export regulations.
Key Takeaways
- ED attaches assets of Lucent Drugs.
- Valuation of attached properties is Rs 5.67 crore.
- Illegal export of Tramadol to Pakistan confirmed.
- Investigation initiated due to NCB complaint.
- Further inquiries ongoing regarding illegal activities.
Hyderabad, Feb 20 (NationPress) The Enforcement Directorate's Hyderabad Zonal Office has provisionally attached immovable properties valued at Rs 5.67 crore belonging to the pharmaceutical firm Lucent Drugs under the Prevention of Money Laundering Act (PMLA), 2002, concerning the unlawful export of the painkiller Tramadol to Pakistan.
The confiscated assets comprise land, buildings, and factory premises owned by Lucent Drugs Pvt Ltd located in the Sangareddy district of Telangana, as stated by the ED.
The ED's investigation was triggered by a complaint from the Narcotics Control Bureau (NCB), Bangalore Zonal Unit, under section 36A of the NDPS Act, 1985, related to violations involving psychotropic substances, their illegal export from India, breaches of orders issued under the NDPS Act, 1985, and forgery of records and documents associated with various export authorizations executed by Lucent Drugs.
Findings from the ED's inquiry indicated that Lucent Drugs has been engaged in the manufacturing and exporting of Tramadol to international clients, including those in Pakistan. Initially, the company obtained a No Objection Certificate (NOC) from the Central Bureau of Narcotics for exporting Tramadol to Pakistan.
Subsequently, the Central Bureau of Narcotics ceased to grant any further NOC applications for Tramadol exports to Pakistan. Nonetheless, the promoters and directors of Lucent Drugs illicitly re-exported 13,800 kg of Tramadol, valued at around Rs 4.12 crore, to Pakistan via the Denmark-based CHR Olesen Pharmaceuticals and 5,000 kg of Tramadol worth approximately Rs 1.33 crore to Pakistan through the Malaysia-based company SM Biomed, receiving the proceeds from these exports.
Thus, M/s Lucent Drugs Pvt Ltd generated and received Proceeds of Crime (POC) totaling approximately Rs 5.46 crore in its bank accounts as a result of the illegal export activities involving Tramadol to Pakistan. Further investigations are ongoing,” the ED stated.
