Medindia

X

Ahimsa Mines & Minerals Accuses Bajaj Healthcare Of Tax Evasion, False License

by Julia Samuel on  July 21, 2015 at 4:14 PM Indian Health News   - G J E 4
Bajaj Healthcare, promoted by Sajan Kumar Bajaj has been accused of tax evasion amounting to several millions. But, Bajaj Healthcare has denied the same claiming that they have obtained licenses for the services in various pharmaceuticals, nutraceutical and food industries.
Ahimsa Mines & Minerals Accuses Bajaj Healthcare Of Tax Evasion, False License
Ahimsa Mines & Minerals Accuses Bajaj Healthcare Of Tax Evasion, False License
Advertisement

"Bajaj Healthcare obtained three advance licenses to import crude caffeine, without paying the customs duty, from the office of Joint Director General of Foreign Trade by falsely producing a drug license to manufacture caffeine anhydrous USP," said, Nemi Chand Jain, Managing Director, Ahimsa Mines & Minerals.

Advertisement
Bajaj Healthcare manufactures and exports nutritional supplements, amino acids, chlorhexidine products, minerals and nutritional supplement materials.

Ahimsa Mines also makes and exports natural caffeine and calcium citrate among other nutritional ingredients. Jain further alleged that Bajaj Healthcare has falsely declared that it would process imported raw materials at its Boisar factory (near Mumbai) and export the end product though it does not hold a proper drug license from FDA.

However, when contacted Bajaj Healthcare Vice-Chairman Anil C Jain denied all the allegations and said Jain is biased towards his company. Directorate of Revenue Intelligence (DRI) had investigated the alleged case of misuse of advance licenses by Bajaj Healthcare and submitted a report to the customs, which in turn issued a demand notice for Rs 8 crore on the company.

Jain also alleged that another Group company Bajaj Health & Nutrition wrongly availed of the benefit of sales and income-tax exemptions amounting to several crores without carrying out any manufacturing activity in Silvassa.

Source: Medindia
Advertisement

Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
User Avatar
* Your comment can be maximum of 2500 characters
Notify me when reply is posted I agree to the terms and conditions

You May Also Like

Advertisement
View All