Micro Labs

Micro Labs Limited (stylized as MICRO LABS) is an Indian pharmaceutical company based in Bangalore. It manufactures healthcare products including Paracetamol tablet Dolo 650.

Micro Labs Limited
MICRO LABS
TypePublic
IndustryPharmaceutical
Founded7 September 1973 (1973-09-07)
FounderGhewar Chand Surana
HeadquartersBengaluru,
India
Key people
Dilip Surana
(Chairman & MD)
Anand Surana
(Director)
Websitemicrolabsltd.com

History

It was founded by Mr G.C. Surana in 1973.[1] His son Mr Dilip Surana[2] is the Chairman and MD of Micro Labs Limited.

Controversy

In July 2022, the Indian Income Tax Department conducted search and seizure operations at the company's headquarters, following allegations that the company had been illegally debiting its books with free gifts for doctors and other medical professionals, such as travel expenses and gifts, to boost sales of their product Dolo-650. These gifts were allegedly debited under accounting entries such as "Promotion and Propaganda", "Seminars and Symposiums" and "Medical Advisories".[3][4][5][6]

See also

References
  1. "Micro Labs Limited Information - Micro Labs Limited Company Profile, Micro Labs Limited News on The Economic Times". The Economic Times. Retrieved 2022-11-24.
  2. "Dilip Surana, Chairman and Managing Director of Micro Labs". The CEO Magazine. Retrieved 2022-11-24.
  3. Bureau, The Hindu (2022-07-06). "I-T raids on Dolo 650 manufacturer Micro Labs Ltd". The Hindu. ISSN 0971-751X. Retrieved 2022-11-24.
  4. Sharma, Priyanka (2022-11-07). "Govt pushes to curb freebies for doctors". mint. Retrieved 2022-11-24.
  5. "IT Department conducts search and seizure operations on Micro Labs Ltd". India Today. Retrieved 2022-11-24.
  6. "How Micro Labs Struck Gold With Dolo-650 During Covid-19". Forbes India. Retrieved 2022-11-24.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.