Education

The revenue worth crores lost due to the spurious medicine manufacturing companies

1 Mins read

Unmesh Gujarathi
Sprouts exclusive

The Food and Drugs Administration (FDA) has observed that revenue worth crores of rupees have been lost due to the unchecked purchase and sale of companies manufacturing spurious medicines, the Special Investigating Team (SIT) of Sprouts has reliably learnt.

Ace Remedies Private Limited is located in Pune in Maharashtra. Pravin Agarwal and Pawankumar Goyal, the directors of this company began manufacturing spurious medicines in connivance with FDA officials and amassed black money worth crores of rupees. There was a furor after this news was published by Sprouts. However the company has continued the production of spurious medicines, the Sprouts has learnt.

The spurious medicines are being marketed through e-commerce websites like IndiaMART. However, there is no reconciliation between the drugs manufactured and the medicines sold. That is why there is a mismanagement of GST liability and set off of Input Tax credit. That is the reason, the Government has been losing revenue worth crores of rupees, Sprouts has received the information.

Ace Remedies Private Limited was recently raided by FDA. During the raid, the FDA officers came across spurious medicines. Besides, the FDA has also noted that the medicines were not manufactured in presence of experts or competent authority.


Related posts
Education

Distribution of bogus PhD degrees in Delhi's Maharashtra Sadan too

3 Mins read
Unmesh GujarathiSprouts Exclusive While awarding bogus PhD degrees, bogus degrees were distributed in the Maharashtra Sadan in Delhi with the devious intention…
Education

दिल्लीच्या महाराष्ट्र सदनातही बोगस पीएचडी पदव्यांचे वाटप

1 Mins read
उन्मेष गुजराथीस्प्राऊट्स Exclusive बोगस पीएचडी पदव्या वाटताना त्याला सरकारी स्वरूप प्राप्त व्हावे व त्यामुळे या बोगस पदव्या अधिकृत वाटाव्यात, या कुटील हेतूने…
Education

Tourist companies cheat customers by making mistakes in visa submissions.

3 Mins read
Unmesh GujarathiSprouts Exclusive Having a visa is mandatory while going on a foreign tour. The first thing to do when getting this…