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IT raids on Odisha Distillery Group
After two days of raids at various locations in Odisha and Jharkhand, Income Tax sleuths believe they have recovered approximately Rs 290 crore. The current raid is the “biggest ever” black money haul by any agency in a single operation due to the significant amount of cash seized from several locations, according to PTI, citing official sources. About forty big and small machines have been installed by the tax department to count the banknotes. Additional department and bank staff were called in to complete the counting operation. The IT department started conducting raids on Boudh Distillery Pvt Ltd and other entities.
In addition, the department has taken over multiple vehicles to transfer seized funds to state-owned banks. Along with several properties owned by the liquor company, the IT department also raided the office of Dhiraj Prasad Sahu, Rajya Sabha MP from Jharkhand for Congress, according to individuals who spoke to the news agency. So far, neither the congressman nor the distillery group have released an official comment. Tax officials are currently recording statements from various corporate officials and other relevant parties. The counting of cash is expected to be completed by the end of Saturday.
According to the news agency, a total of around 290 crowns of undeclared cash is expected to be seized. The IT department has so far seized about Rs 250 crore in cash and the black money is still being deposited in the Odisha official branches of the bank. Most of the notes are in the denomination of ₹500. The amount of money seized during the cyber raid is the largest ever seized by any agency in India. IT officials recovered approximately ₹230 crore in cash from eight to ten almirahs at one of the company’s locations in Bolangir area. According to sources who spoke to PTI, the remaining funds were found in Titlagarh, Sambalpur and Ranchi.
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Source: HIS Education