Note counting machine stopped, more than Rs 50 crore found in IT raid

In a startling turn of events, the Income Tax Department recently conducted raids at Boudh Distilleries Private Limited in Odisha and Jharkhand. The operation, spanning locations in Bolangir, Sambalpur, Ranchi, and Lohardaga, has led to the recovery of an astonishing Rs 50 crore in cash. The magnitude of this financial discovery has left authorities grappling with the sheer volume of currency notes.

Cash Recovery in Odisha and Jharkhand

The raid revealed a substantial cache of currency notes linked to Boudh Distilleries Pvt Ltd. The Income Tax Department officials shared that the counting of notes had reached an impressive Rs 50 Crores by the end of yesterday. However, the sheer volume proved overwhelming for counting machines, causing an abrupt halt.

About Boudh Distilleries Private Limited

Boudh Distilleries Private Limited stands as a prominent player in the business landscape. Headquartered in Odisha, this conglomerate comprises four companies spanning six diverse business divisions. Operating extensively across Odisha, the group boasts a comprehensive portfolio.

The group's companies include:

• Boudh Distillery Private Limited: Specializing in ENA, CO2, and DDGS.
• Baldeo Sahu Infra Private Limited: Focused on Fly Ash Bricks.
• Kwality Bottlers Private Limited: Engaged in IMFL Bottling.
• Kishore Prasad Bijay Prasad Beverages Private Limited: Handling Sales & Marketing of IMFL brands.

Immediate Impact on Operations

The ongoing investigation has cast a shadow on Boudh Distilleries Pvt Ltd's operations. The freezing of assets and the financial scrutiny may have a ripple effect on the company's ability to conduct business seamlessly.

Conclusion

The I-T raids at Boudh Distilleries Pvt Ltd have thrust the company into the limelight, prompting questions about financial transparency and adherence to tax regulations. As the investigation unfolds, the impact on the conglomerate's reputation and business operations remains uncertain.