Cash and jewellery amounting to more than Rs 7 crore have been seized so far during ongoing Income Tax Department raids on a Kanpur-based tobacco baron.
Tax evasions worth more than ₹100 crore by Banshidhar Tobacco Company and its affiliate firms were unearthed during the income tax department’s raids across Kanpur, Delhi and Jhansi on Thursday and Friday, according to people aware of the details.
Nearly ₹7 crore cash, along with a fleet of luxury cars like Lamborghini, McLaren, Ferrari and Rolls Royce, belonging to Banshidhar Tobacco Company owner KK Mishra, and estimated to be valued at ₹60 crore, were seized during the searches.
Authorities are currently investigating whether these vehicles were purchased through anonymous channels or omitted from the company’s financial records, sources said.
The raids also shed light on tax evasion and illicit financial activities in the region. In last two years, raids on Ghana Ram Group blew the lid off tax evasion of ₹800 crore, while a similar raid in Kanpur in 2023 exposed tax evasion worth ₹1500 crore by Radhey Shyam Purshottam Dass jewellers.
