IT Department Raids Banshidhar Tobacco Company Owners, Luxury Vehicles Worth Over Rs 60 Crore Seized

The Income Tax Department (IT) has raided the Banshidhar Tobacco Company in Kanpur.  The department conducted searches at several locations in Kanpur. Around 15-20 teams carried out related operations in 5 states, including Kanpur in Uttar Pradesh. 

Vehicles worth Rs 60 crore recovered
In the raid, the Income Tax Department found luxury cars worth more than Rs 60 crore. The cars were kept at the company owner's residence in Delhi. The most expensive of these cars was the Rolls Royce Phantom, which is priced at Rs 16 crore. Cars worth crores of rupees including McLaren, Lamborghini, and Ferrari were also found during the raid on the house of Shivam Mishra, son of Banshidhar tobacco owner KK Mishra. The Income Tax department has also seized a total of Rs 4.5 crore in cash during the raid. Apart from this, some documents have also been seized by the Income Tax Department.

Company accused of fraud
According to sources in the Income Tax department, fake cheques were being given to companies registered in the company's log. In addition, the company was supplying several other large pan masala household products. According to sources, the company showed its turnover at Rs 20-25 crore, but in reality, the turnover is estimated to be around Rs 100-150 crore. 

The officers arrived in six vehicles
According to reports, KK Mishra alias Munna Mishra, the owner of the firm, which has been in the tobacco business for nearly 80 years, has an old office in Nayaganj. Around 1.30 pm on Thursday, income tax officials arrived in six vehicles and took over the entire area. The mobile phones of the employees present there were also taken away. Documents and electronic devices were also seized. Apart from real estate and benami properties, cash is also being searched. According to media reports, 15 to 20 teams of the Income Tax Department are conducting raids in Ahmedabad in Gujarat, Kanpur in Uttar Pradesh, Andhra Pradesh, and Delhi.