The seizure of “unaccounted” cash in the Income Tax department raids on Odisha-based distillery group and its linked entities is expected to reach Rs 290 crore, which would make it the “highest-ever” black cash haul by any company in a single single operation, official sources mentioned on Saturday (December 9). The tax division has put to work practically 40 giant and small machines to depend forex notes and introduced in additional division and financial institution staffers to end the counting course of, which started on December 6 following raids in opposition to Boudh Distillery Pvt Ltd and others, they mentioned.
What else is the I-T division doing?
In addition to these, extra autos have additionally been requisitioned by the division to transport the seized cash to authorities banks within the state.
“A premises linked to Congress’ Rajya Sabha MP from Jharkhand, Dhiraj Prasad Sahu, were also covered as part of the searches,” sources mentioned.
The officers are actually recording the statements of assorted firm officers and different individuals concerned, the sources.
The counting of cash is predicted to end by Saturday.
“The total seizure of unaccounted cash is expected to be about Rs 290 crore. More than Rs 250 crore cash has been seized till now, and cash is continuously being deposited in government bank branches in Odisha,” sources added.
The notes represent largely of Rs 500 denomination.
“This is the highest-ever cash seizure made by an agency in the country as part of an action against a single group and its linked entities,” they added.
I-T Department intensifies crackdown
The I-T Department has stepped up crackdown on a liquor distillery group in Odisha.
The sleuths have seized one other 20 bagloads of cash from the residence of a countrymade liquor producer in Sudapara space of the Bolangir district on Saturday, after initially recovering practically Rs 225 crore until Friday.
(With PTI inputs)
