Bhubaneswar: 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.
With its headquarters in Odisha, the BDPL Group has other business divisions like Baldeo Sahu Infra Private Limited (fly ash bricks), Kwality Bottlers Pvt Ltd (IMFL bottling), and Kishore Prasad Bijay Prasad Beverages Pvt Ltd (sales and marketing of IMFL brands).
Additionally, the authorities also conducted simultaneous raids at two liquor traders’ residences in Bolangir and Titilagarh and seized cash. The cash recovered from these raids was brought to the State Bank of India’s branch in Bolangir last night and deposited.
Further, the agency revealed that the searches were conducted at the residences of Deepak Sahu and Sanjay Sahu in Titilagarh. Both the liquor barons reportedly fled the town after receiving a tip-off about the raids.
The I-T authorities also raided the house, office, and country liquor distillery at Sargipali in Sundargarh last night. The corporate office of Boudh Distillery was also raided in Bhubaneswar, along with the homes of some company officials, the company factory, and the office in Boudh Ramchikata and at the Ranisati Rice Mill.
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