IT Raids On Odisha Distillery Group Unearth Rs290 Crore

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IT Raids On Odisha Distillery Group

Following two days of raids at various locations in Odisha and Jharkhand, income tax investigators believe they have retrieved approximately ₹290 crore. The current raid is the “highest-ever” black money haul by any agency in a single operation due to the significant amount of cash taken from several locations, according to PTI, which cited official sources. About forty large and small machines have been deployed by the tax department to count cash notes. Additional department and bank staff members have been called in to complete the counting operation. The IT division started conducting raids on Boudh Distillery Pvt Ltd and other entities.

In addition, the department has taken possession of more vehicles to transfer the confiscated funds to state government banks. In addition to several properties owned by the spirits production company, the IT department also raided the office of Dhiraj Prasad Sahu, a Rajya Sabha MP from Jharkhand for the Congress, according to individuals who spoke with the news agency. Until now, neither the Congress MP nor the distillery group have released an official comment. Tax officials are currently recording the statements made by various corporate officials and other relevant parties. By the end of Saturday, the cash counting is also anticipated to be completed.

According to the news agency, a total of around 290 crore worth of undeclared cash is anticipated to be seized. Around ₹250 crore in cash has been seized by the IT department thus far, and black money is still being deposited in Odisha’s official bank branches. Most of the notes are in the ₹500 denomination. The amount of money seized during the IT raid is the most that any Indian agency has ever taken. IT officials have retrieved approximately ₹230 crore in cash from eight to ten almirahs at one of the company’s locations in the Bolangir area. According to sources who spoke to PTI, the remaining funds were found in Titlagarh, Sambalpur, and Ranchi.