Ahmadabad:  A surprise raid by the Income Tax Department has nailed a pharma and health care giant in Vadodara and exposed an illegal property worth Rs 220 crores. 

A three-day raid was carried out at the business offices of Gujarat based pharmaceutical and health care companies Sterling Biotech Research Centre and Sterling Sage in its different branches in Mumbai and Vadodara along with the residences of their owners Nitin Sandesara and Chetan Sandesara, at Old Padra in Vadodara.

The business duo is among the wealthiest families in Vadodara and has a vast business empire in Mumbai as well. 

The company is liable to pay a tax of Rs 72 crores to the Income Tax Department. During the raids conducted by different teams of the Income Tax, Excise and Customs departments have discovered investments, anonymous property and illegal buying-selling worth Rs 220 crores.
 
(JPN/Bureau)