Income Tax officers Continue Raids in Odisha, Seize Huge Amounts Of Cash Again,400 Crores Seized till now
09 Dec 2023 20:37:39
The Income Tax Department has been busy conducting raids on liquor shops,resulting in a significant amount of currency notes being confiscated from the home of Bunty Sahu,the manager of Sudapada liquor trader in Balangir district.
Sources state that the total sum of the seized money is estimated to be more than Rs 30 crore. Amid heightened security, the Income Tax officials meticulously counted the notes.
In addition, it has been reported that Sanjaya Sahu and Deepak Sahu, both liquor traders, along with representatives from the Baladev Group of Companies,will be summoned to the Income Tax Department's Regional headquarters in Bhubaneswar for questioning.
Sources also reveal that the total amount of seized money has now surpassed Rs 400 crore, with the raids being conducted in Bhubaneswar, Cuttack, Sambalpur, and Balangir.
The Income Tax sleuths are leaving no stone unturned in their efforts to uncover any discrepancies and bring those responsible to justice.
Recently, there has been a lot of buzz around the I-T department's successful raids, with reports stating that they have already retrieved approximately Rs 200 crore. However, their latest discovery has left everyone in shock. During a recent raid at the residence of Balangir Sudapada's country-liquor manufacturer's manager, the officials stumbled upon 20 bags filled to the brim with cash.
According to initial estimates, the total amount of cash found in the manager's house is around Rs 100 crore. However, the I-T department is yet to confirm the exact figure. In order to secure the recovered money, the income tax team loaded the bags and boxes into a van and transported it to the currency chest of the State Bank of India (SBI) in Balangir. The money will be counted by the authorities in due time.
The task of counting the massive amount of cash has proven to be quite challenging for the income tax and bank officials. In order to tackle this daunting task, several bank employees have been assigned in two shifts to assist the I-T department officials. Additionally, they have requested around 10 cash counting machines from nearby banks to speed up the process.
According to initial estimates, the total amount of cash found in the manager's house is around Rs 100 crore. However, the I-T department is yet to confirm the exact figure. In order to secure the recovered money, the income tax team loaded the bags and boxes into a van and transported it to the currency chest of the State Bank of India (SBI) in Balangir. The money will be counted by the authorities in due time.
The task of counting the massive amount of cash has proven to be quite challenging for the income tax and bank officials. In order to tackle this daunting task, several bank employees have been assigned in two shifts to assist the I-T department officials. Additionally, they have requested around 10 cash counting machines from nearby banks to speed up the process.
As per bank officials, there are approximately 50 dedicated employees diligently counting the cash using 25 advanced counting machines. Their goal is to finish the entire process within the next two days. Currently, there are a total of 176 bags of cash, but only 40 bags have been counted so far.
It should be noted that the target of this raid is a liquor manufacturer who is a major shareholder in Baldeo Sahu & Group of Companies, a prominent country liquor production and distribution company in western Odisha. The Income Tax department searched the offices and residences of all individuals associated with this group.
The raid also extended to Boudh Distillery Private Limited (BDPL).
It is worth mentioning that Baldeo Sahu & Group of Companies has a partnership with Boudh Distilleries Pvt Ltd. Apart from this, the group has other successful ventures including Baldeo Sahu Infra Pvt Ltd (known for producing fly ash bricks), Kwality Bottlers Pvt Ltd (a popular IMFL bottling unit), and Kishore Prasad Bijay Prasad Beverages Pvt Ltd which is involved in the sale and marketing of various IMFL brands.
In the meantime, a team of 20 Income Tax investigators from Hyderabad arrived in Bolangir on Saturday to assist in the ongoing probe of the large sum of cash found. Sources reveal that the team will also be examining electronic devices such as computers belonging to the liquor traders' company and other related parties.
It should be noted that the target of this raid is a liquor manufacturer who is a major shareholder in Baldeo Sahu & Group of Companies, a prominent country liquor production and distribution company in western Odisha. The Income Tax department searched the offices and residences of all individuals associated with this group.
The raid also extended to Boudh Distillery Private Limited (BDPL).
It is worth mentioning that Baldeo Sahu & Group of Companies has a partnership with Boudh Distilleries Pvt Ltd. Apart from this, the group has other successful ventures including Baldeo Sahu Infra Pvt Ltd (known for producing fly ash bricks), Kwality Bottlers Pvt Ltd (a popular IMFL bottling unit), and Kishore Prasad Bijay Prasad Beverages Pvt Ltd which is involved in the sale and marketing of various IMFL brands.
In the meantime, a team of 20 Income Tax investigators from Hyderabad arrived in Bolangir on Saturday to assist in the ongoing probe of the large sum of cash found. Sources reveal that the team will also be examining electronic devices such as computers belonging to the liquor traders' company and other related parties.
