Special Correspondent:
Liton Nandy, owner of Nandi Drug House, has come under renewed scrutiny following allegations of involvement in the illegal trade of counterfeit and unauthorized medicines, large-scale tax evasion, and money laundering.”He became enormously wealthy by selling counterfeit and substandard medicines”.
According to information obtained by this correspondent, Nandy is alleged to be a key figure in a syndicate operating in Dhaka’s Mitford pharmaceutical market. The allegations claim that the network has been involved in the collection and commercial sale of government-allocated medicines, NGO project drugs, and other unauthorized pharmaceutical products that are not permitted for sale in the open market.
The report further alleges that Nandy has accumulated substantial wealth through these activities and transferred significant amounts of money abroad, including to Canada, where he is reportedly accused of acquiring property in his wife’s name. These allegations have not been independently verified.
According to the report, Nandy has previously faced legal action related to the storage and sale of prohibited medicines and reportedly served 41 days in jail. It is alleged that after his release, he resumed control of a counterfeit medicine syndicate operating in the Mitford market.
An investigative report by My TV, cited in the allegations, claims that Nandy has been involved in purchasing government and NGO medicines at nominal prices and reselling them commercially. It also alleges that counterfeit medicines were produced through an entity identified as *Redisan Laboratories, and that tax-free pharmaceutical products were allegedly diverted into the commercial market without payment of applicable VAT and taxes.
The report further alleges that nearly Tk 100 crore worth of medicines—including government-supplied drugs, NGO medicines, project-based pharmaceuticals, and tax-exempt products—have been traded through a joint business operation involving Nandy and businessman Hasan Gazzali under the name GS Pharma, resulting in significant losses in government revenue.
Responding to questions on the allegations of VAT evasion, Mutasim Billah Faruqi, a member of the National Board of Revenue (NBR), said that if a written complaint is submitted, the matter will be investigated. He added that the issue could also be referred to the VAT Intelligence Unit for necessary action.
Regarding the allegations of money laundering and illicit wealth accumulation, Mohatar Hossain, Director General of the Anti-Corruption Commission (ACC), reportedly told this correspondent that the Commission would examine any formal complaint and take legal action if evidence supports the allegations.
Repeated attempts to contact Liton Nandy via WhatsApp for his comments were unsuccessful, and he could not be reached for a response before publication.
