Hyderabad:
Officials of the Directorate of Revenue Intelligence on Tuesday raided a pharma company located in Jeedimetla industrial area in the city and seized huge quantities of ephedrine, a narcotic substance.
The owner of the company was taken into custody. Directorate of Revenue Intelligence officials estimated the seized drug to be worth crores of rupees in the international market.
Searches were still going on till last reports came in and the officials are likely to calculate the exact worth of the stash on Wednesday.
The Directorate of Revenue Intelligence officials were also making searches on various units affiliated to the Kopplem Pharma Chemicals Company in the locality.
"The searches are still going and the total value of the seized substance could be made only after the searches are completed,'' an official said.
The smuggling syndicate was reportedly run by various persons. Officials said the export documents were in the name of the owner of the company.
Officials found equipment for sealing packets, a bundle of cardboard sheets similar to the material used for packing ephedrine and a weighing scale.