Banshidhar Tobacco Under I-T Scanner: ₹4.5 Cr Seized; Luxury Cars, Including Roll-Royce, McLaren, Porsche, Worth ₹50 Cr Recovered From Scion's House

The Income Tax (IT) Department conducted raids at various locations of Banshidhar Tobacco Company concerning financial manipulations that extend beyond state borders, reaching even overseas.

The IT Raids were conducted at 20 locations, including Kanpur, Delhi, Mumbai, and Gujarat. According to reports, the company officially declared a turnover significantly lower than its actual figures, pointing to a substantial disparity.

Income Tax found fleet of luxury cars

During the raid, luxury cars valued at Rs 50 crore were found, which included a Rolls-Royce Phantom worth Rs 16 crore, as well as other brands like McLaren, Lamborghini, Ferrari, and additional Rolls-Royce vehicles. The cars were found at the residence of Shivam Mishra, son of the owner of Banshidhar Tobacco Company, according to reports.

Additionally, the Income Tax department found Rs 4.5 crore in cash and other documents during the course of the investigation.

According to reports, the tobacco company was allegedly issuing counterfeit cheques to a company listed in its accounts while on the other side was supplying products to prominent pan masala manufacturers. K Mishra, also known as Munna Mishra, is identified as the proprietor of the tobacco enterprise.

To investigate this matter, the Income Tax department raided K Mishra's houses in Kanpur and Delhi. The focus is on whether the company was doing shady business by pretending to pay one company while actually selling products to others. The whole situation is now being looked into for financial wrongdoing.