The Income Tax Department’s raid on Rajasthan’s famous food chain, Kanha Restaurant, continues for the fourth day on Saturday. So far, the Income Tax Department has seized jewelry worth ₹7.5 crore and cash worth ₹25 lakh.
According to sources, raids began on Wednesday morning at 33 locations of Kanha Restaurant, including Jaipur and Mumbai. Teams have completed searches at 26 locations in the four-day Income Tax raid. The Income Tax Department’s raid on 7 locations in Jaipur is continuing on Saturday.
During a raid at a location in Jaipur on Friday, the Income Tax Department team discovered a secret room. Ten small shelves were found in the secret room, hidden behind a large wall.
Upon opening the shelves, jewelry worth ₹5 crore and cash worth ₹25 lakh were found.
The IT team has so far recovered jewelry worth 11 crore rupees, cash worth 1.25 crore rupees, and 10 bank lockers during the raid. Upon presenting some accounting documents, the Income Tax Department seized jewelry worth 7.5 crore rupees and cash worth 25 lakh rupees. Further investigations are expected to uncover movable and immovable assets worth crores of rupees.
Bank lockers will be opened and valuations will be conducted.
It is believed that the Income Tax Department will complete the raid by Sunday evening. Valuations are underway, along with the opening of bank lockers. Records of lavish weddings held in the hotels operated by Kanha over the past three years have been recovered.