New Delhi, Feb 4 (PTI) The Enforcement Directorate (ED) has attached assets of a Telangana-based company in connection with a money laundering case linked to the illegal manufacture of a scheduled drug, the federal agency said on Friday.

A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach Rs 1.93 crore-worth fixed deposits of Hygro Chemicals Pharmtek Pvt Ltd located in Medak district of the state, it said in a statement.

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The company is accused of "illegally manufacturing and dealing" in a scheduled drug identified as Dextro Propoxyphene Hydrochloride (DPP HCL).

The ED launched a criminal probe against the company after studying a complaint filed by the Hyderabad office of the Directorate of Revenue Intelligence.

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Hygro Chemicals Pharmtek Pvt Ltd had a licence from the Central Bureau of Narcotics, Gwalior, to manufacture DPP HCL but the company "misused" it and illegally despatched 6,450 kg of the drug to a partnership concern called J K Pharma Agencies, New Delhi, during 2004-2006, and they mis-declared the same as some other chemical, the ED said.

DPP HCL, it said, can be used as a raw material to make narcotic substances.

The drug was then illegally sold at the rate of Rs 3,000 per kg, and thus, the accused company generated proceeds of crime worth Rs 1,93,50,000, the ED said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)