Tobacco tycoon raided: Diamond watches and jewellery worth Rs 9.5 crore found on Day 2
The raids, spanning 20 locations including Kanpur, Delhi, Mumbai, and Gujarat, have exposed alleged discrepancies in the company's reported turnover, with sources revealing a staggering difference between the declared income and the actual turnover.
On Day 2 of raids on the Tobacco tycoon, the Income Tax department has unearthed five more expensive watches including diamond watches worth Rs 2.5 crore seized. Jewellery and cash worth Rs 7 crore was also seized. A Rolls Royce, a Porsche, a Lamborghini — all bear '4018' on the licence plates was recovered from Shivam Mishra, the scion of a tobacco company on Friday.
According to Income Tax Department sources, today is the third day of major action against Banshidhar Tobacco Group. The Income Tax department team is interrogating company owner KK Mishra at the residence. According to sources, KK Mishra is trying to avoid answering the questions of the officials by citing his poor health.
On the second day of the raid, Income Tax Department officials found luxury watches worth crores of rupees, which also included a diamond-studded watch worth about Rs 2.5 crore. A total of five watches have been received by the Income Tax Department and a special team has been called for their valuation, the report of which will come after a few days. While interrogating the owner of the company, the Income Tax officer is questioning that if the turnover of the company is only Rs 20-25 crore, then what are the vehicles worth above Rs 60-70 crore doing in his house.
Apart from this, Banshidhar Tobacco Limited Company sold goods in raw form to a big Pan Masala group. On the basis of which the Income Tax Department is preparing to take action against those big Pan Masala groups which are involved in this matter. Was purchasing goods from the company.
At present, in the action taken so far, about Rs 4.30 crore in cash and jewellery worth Rs 2.5 to Rs 3 crore have been seized by the Income Tax Department officials, and an inquiry is going on as to where the money for the purchase of expensive vehicles came from.