In one of the biggest cash hauls in Odisha, the Income Tax (I-T) department officials have stumbled upon cash worth over Rs 150 crore while carrying out multiple raids on a liquor manufacturing company following allegations of tax evasion.
The massive I-T raids on multiple divisions of Boudh Distilleries Private Limited, a company manufacturing liquor, are underway for the second day on Thursday.
As per reports, more than Rs 150 crore in cash was seized during raids at the Bolangir office of Baldeo Sahu & Group of Companies, one of the biggest country-liquor manufacturers and selling companies in western Odisha by the income tax sleuths who were surprised to see so much money stashed in an almirah.
Baldeo Sahu & Group of Companies is the partnership firm of Boudh Distillery Pvt Ltd (BDPL), which was raided yesterday too.
Headquartered in Odisha, the BDPL group operates across the State. It has other business divisions like Baldeo Sahu Infra Private Limited (Fly Ash Bricks) Kwality Bottlers Private Limited (IMFL Bottling) and Kishore Prasad Bijay Prasad Beverages Private Limited (Sales & Marketing of IMFL brands).
Apart from that, the I-T department had also conducted simultaneous raids at the residences of two liquor traders at Sudapada in Bolangir town and Titilagarh town respectively from where cash was also seized.
Following the seizure, the I-T Department brought the cash bags and sacks loaded in a large truck to the State Bank of India’s Bolangir branch last night. All that money was taken inside the bank and deposited under tight security.
Searches were also conducted at the houses of two liquor barons Deepak Sahu and Sanjay Sahu of Titilagarh.
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The income tax team also raided the house, office, and country liquor distillery at Sargipali in Sundargarh city yesterday. Raids were also conducted at the corporate office of Boudh Distillery Pvt Ltd at Palasapalli in Bhubaneswar, the houses of some company officials, the company's factory and office in Boudh Ramchikata and at the Ranisati Rice Mill.
Sources said the I-T sleuths raided the residence of Ashok Kumar Agarwal, a businessman from Purunakatak for his alleged links with the company.
The Income Tax department continued its search on Thursday too with reports of raids at some liquor traders at Bolangir, two houses at Nehru Nagar in Titilagarh and Boudh.
While no comments have been received from any liquor manufacturers or traders in this connection, the IT department is likely to issue a detailed statement after finishing the raids.