Income Tax Raids Unearth Unaccounted Cash of Rs 250 Crore in Odisha Distillery Group Probe

Ongoing Searches Reveal Significant Cash Hoard Linked to Boudh Distillery Pvt Ltd

  • Income Tax Department's ongoing searches against Boudh Distillery Pvt Ltd unveil unaccounted cash estimated at Rs 250 crore.
  • Raids, initiated on December 6 in Bhubaneswar, shed light on potential financial irregularities within the Odisha-based distillery group.

In a significant development, ongoing searches conducted by the Income Tax Department have revealed unaccounted cash amounting up to Rs 250 crore in connection with an investigation into an Odisha-based distillery group. The probe primarily focuses on Boudh Distillery Pvt Ltd and its associated entities in Bhubaneswar.

The raids, launched on December 6, have provided insights into potential financial irregularities within the distillery group. The unearthing of unaccounted cash totaling Rs 250 crore is anticipated to have wide-ranging implications for the ongoing investigation, shedding light on possible financial discrepancies.

The Income Tax Department, which is leading the operation, has not concluded the searches, indicating that more information related to financial transactions and hidden assets may surface in the coming days. The recovery of such a substantial amount of unaccounted cash underscores the gravity of the financial scrutiny being applied to Boudh Distillery Pvt Ltd and its linked entities.

The Odisha-based distillery group has come under the scanner for alleged financial improprieties, prompting authorities to initiate the comprehensive search operation. The ongoing investigation aims to ascertain the nature and extent of financial irregularities, including the origins and destinations of the unaccounted cash discovered during the raids.

As the raids progress, the Income Tax Department is expected to delve deeper into the financial dealings of the distillery group, seeking clarity on the sources of the unaccounted cash and its potential links to other entities. The revelations during this investigation may have implications not only for Boudh Distillery Pvt Ltd but also for the broader landscape of financial compliance and transparency within the distillery industry in Odisha.