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Cash hoard surpasses Rs 300 crore in IT raids from Odisha-based distillery company

Bhubaneswar:10/12/23: The Income-Tax(IT) department’s ongoing searches against an Odisha-based distillery company, Boudh Distillery Private Limited, have resulted in a cash seizure exceeding Rs 300 crore, according to official sources.

The extensive raids, now in their fifth day since initiation on December 6, are targeting the distillery company, its promoters, and others over allegations of tax evasion and “off-the-book” transactions.

As of now, sources reveal that more than Rs 300 crore in cash has been accounted for, with counting still underway. In previous updates, the counting of seized money had been concluded in Titlagarh and Sambalpur, where Rs 11 crore and Rs 37.50 crore were seized, respectively.

The income-tax department is actively recording statements from executives and staff present at the searched locations. Soon, summonses will be issued to the primary promoters of Boudh Distillery Private Limited for their statements.

Notably, the searches also extended to the premises of Dhiraj Prasad Sahu, a Congress Rajya Sabha MP from Jharkhand, in Ranchi and other locations.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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