Odisha I-T raids: Rs 290 crore cash seizure set to be 'highest-ever' haul

The seizure of "unaccounted" cash after Income Tax department raids against an Odisha-based distillery group and its entities is expected to reach Rs 290 crore, making it the highest-ever black money haul by any agency in a single operation, official sources said Saturday (December 9).

The tax department has deployed about 40 large and small machines to count the seized currency notes and brought in more department and bank staffers to complete the counting that began on December 6 after raids against Boudh Distillery Pvt Ltd and others.

More vehicles have also been requisitioned to transport the seized cash to government banks in the state.

Premises linked to Congress Rajya Sabha MP from Jharkhand, Dhiraj Prasad Sahu, were also covered as part of the searches, the sources said.

The officials are now recording the statements of company officials and others, the sources said.

The total seizure of unaccounted cash is expected to be about Rs 290 crore, a PTI report said citing sources. The notes are largely of the 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.

BJD view

They said almost Rs 230 crore cash was seized from about 8-10 almirahs kept in the company premises in Bolangir district. The rest of the money were in locations in Titlagarh, Sambalpur and Ranchi.

The searches were launched after the tax department got "actionable intelligence" of a huge amount of "out of book" sales and cash being remitted by liquor distributors, sellers and business groups.

The ruling BJD in Odisha welcomed the tax raids.

"Jharkhand BJP leaders are saying the seized money belongs to Congress leaders. On the other hand, Congress leaders are saying it belongs to BJP leaders… It seems both BJP and Congress leaders had stashed their money with this businessman," it said.

(With agency inputs)