Bhopal: Approximately 275 Income Tax officials along with 150 police personnel on Tuesday launched a nation-wide raid on liquor manufacturing facilities, residences and offices of the Kedia brothers. The raids were conducted at 40 locations spread across 12 cities in six states over alleged tax evasion and money laundering during demonetization.
Headquartered in Indore, the group owns Associated Alcohol and Breweries Limited (AABL), the biggest distillery of the country. While AABL is run by Anand Kedia and Prasanna Kedia, Great Galleon Limited, is managed by Vijay Kedia and Ratan Kedia.
The raids were conducted in MP, Chhattisgarh, West Bengal, Delhi, UP and Jharkhand. In Indore, raids were conducted at 13 spots, including promoters’ residences at Shrinagar and Saket and office at BRTS along with three manufacturing plants at Ghatabillod and Badwaha in Indore and one in Khargone district.
A senior I-T official said that the Kedia Group has made forays into real estate business across the country.
Though the group’s major business operations and manufacturing plants are based in Indore and its vicinity, the income-tax returns were filed in Kolkata, that has of late gained notoriety as a hub of shell or briefcase companies. The raids are to continue for next three four days. The actual data of money laundering and I-T evasion would be ascertained only after it.
Sources claimed that apart from tax evasion, the group and the company were both involved in money-laundering during demonetization last year. It used cooperative banks, jandhan accounts, shell companies along with bank accounts of its employees. Sources claimed that people residing in small towns Katni and Rewa too were roped in for tax evasion.