After Rolls Royce And Porsche, Rs 2.5 Crore Diamond Watch Seized From Tobacco Baron
NDTV
Seven crore rupees in cash, along with jewellery and other assets, have also been seized, intensifying the scrutiny on the group's financial affairs.
After establishing itself as a key player in the tobacco industry, the Banshidhar Company has come under the radar of Income Tax authorities who are working round the clock to unravel the company's web of deception. The department today carried out raids at the home and offices of the company's head KK Mishra.
Banshidhar Tobacco Private Limited is a major player in the tobacco industry and is known for supplying products to major pan masala groups. Reports suggest that the company has a declared income of Rs 20 to 25 crore when the actual turnover was pegged at Rs 100-150 crore. The searches so far have revealed a trail of clandestine dealings and opulent lifestyles.
In today's raids, the agency seized several expensive watches belonging to Shivam Mishra, the scion of the tobacco company. One of the watches, diamond-studded, is worth nearly Rs 2.5 crore rupees, sources in the agency said.
