IT raids in Odisha expected to unearth ₹290 crore; ‘highest-ever’ black money haul by agency

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₹290 crore. The massive cash recovered from multiple spots has made the ongoing raid as the “highest-ever" black money haul by any agency in a single operation, reported PTI citing official sources. The tax department has deployed about 40 large and small machines to count currency notes and brought in more department and bank staffers to finish counting process.

The IT department bagan raids against Boudh Distillery Pvt Ltd and others. Apart from this, more vehicles have been requisitioned by teh department to transport the seized cash to government banks in the state. Apart from different properties of the liquor manufacturing firm, a premises of a Congress' Rajya Sabha MP from Jharkhand, Dhiraj Prasad Sahu, was also raided by the IT department, souces told the news agency.

Till now, there has been no official statement by the distillery group or the Congress MP. Currently, tax officials are now recording the statements of various company officials and other persons involved, the counting of cash is also expected to be finish by Saturday end. The total seizure of unaccounted cash is expected to reach around 290 crore, reported the news agency.

Till now, the IT department has seized around ₹250 crore cash and the black money is continuously being deposited in govvernment bank branches in Odisha. The notes are largely of the ₹500 denomination. The cash recovered from the IT raid is the highest-ever cash seizure made by any agency in India.

From one of the premises of the company in Bolangir district, IT officials have recovered around ₹230 crore cash from about 8-10 almirahs. The rest of the money was recovered from locations in Titlagarh, Sambalpur and Ranchi, sources told PTI. The IT raids began after the taxman got