Undisclosed cash over Rs 351 Crore seized during IT raids on Odisha liquor firm: Ministry of Finance

New Delhi: An undisclosed cash over Rs 351 Crore was seized during Income Tax Department’s raids on Odisha liquor firm, informed Union Ministry of Finance today.

According to the ministry, while cash amounting to more than Rs 351 crore was seized during the searches of the central agency in Odisha, Jharkhand and West Bengal, unaccounted jewellery exceeding Rs 2.80 crore was also recovered.

“Income Tax Department conducted a Search and seizure operation on a group, engaged in the business of manufacture and sale of country liquor, grain-based alcohol, bottling of foreign liquor, running hospitals and educational institutions on December 6. The business of the group is controlled by a family based in Ranchi, Jharkhand. One of the family members of the group is also a Politically Exposed Person residing in Ranchi,” ANI wrote while quoting the Ministry of Finance.

It further said that a substantial part of the cash, to the tune of Rs. 329 crores, was unearthed and seized from obscure and dilapidated buildings, hidden chambers and hidden safe-house camouflaged as an unoccupied/nondescript residence located in small towns of Odisha including Sudapada and Titlagarh in Balangir district and Khetrajrajpur in Sambalpur District.

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