DN group raid: Senior IT officials continue probe in Nayapalli residence

Bhubaneswar: Today yet again the Income Tax department officials continued their probe into the Nayapalli residence of the DN Group. The probe has been going on since morning.

The raid is still going on today, said reliable reports. The Income Tax team is asking various questions relating to this matter.  A team of senior income tax officials are asking questions.

The fake notes that have been seized by the Income Tax department on day two of the raid have been sent to the RBI for verification, said reliable reports.

n a shocking revelation, fake notes worth crores of rupees has been unearthed by the Income Tax department during the raid on DN group in Bhubaneswar.

The Revenue Department has started to crack down on the fake notes that has been seized from the popular group of builders from various locations across Bhubaneswar.

According to reports, a team of experts reached and identified the seized currency as fake notes. The fake notes that have been seized are being counted with the help of machines.

In another shocking fact it has been seen that during the raid, cash receipts of over Rs. 100 crores has been unearthed till now.

The investigation is underway regarding receipts received from various people. While the receipts are being counted, the raid process continues.

The Income Tax raid on DN group of companies is still continuing on day two. It is worth mentioning that the raid was continuing all night long.

The money that was confiscated from Postal Colony in Bhubaneswar is still being counted by the Income Tax Department. The Director of the company Chandrashekhar Panda has not been able to explain the source of the huge amount of cash that had been seized yesterday.

The IT Department had seized cash to the tune of as much as Rs. 30 Crore from the house of  Chandrashekhar Panda, the Director of DN Group of Companies.

It is worth mentioning that, the Income Tax Department had conducted raids on DN group in Bhubaneswar, said reliable reports on Wednesday.

According to reports, the IT department has conducted raids in 20 places in connection with the real estate company DN Group.

The IT department officials have raided the residence and offices of the company’s director, staff and office at IRC village in Nayapalli area of Bhubaneswar. As much as Rs 30 crore in cash has already been recovered from the house of a company employee.

The IT team has also found certain important documents relating to the company’s accounts, said reliable reports.