Authorities estimate that an I-T cash seizure in Odisha is likely to be over ₹ 350 crore. The cash was seized by the Income Tax department from distillery units in Odisha.
Simultaneous counting of cash in Odisha’s Titlagarh, Sambalpur, and Balangir came to end on December 10. The highest cash seizure was made in Sudapada locality of Balangir town where 176 bags containing currency notes of different denominations were traced.
₹ 305 crore in Balangir
“We have so far counted ₹ 270 crore in Balangir branch of State Bank of India,” Bhagat Behera, Regional Manager of SBI, said on December 10 afternoon. The counting of cash finally ended in the evening taking the count to ₹305 crore, SBI sources said.
The Balangir branch of SBI deployed 50 employees and 25 cash counting machines, while 10 machines were kept on standby for uninterrupted counting. In Titlagarh, ₹ 11 crore in currency notes were counted while the figure in Sambalpur branch was ₹ 37.5 crore.
The currency notes clung to each other posing difficulties. The bank had to requisition an air drier to make it fit again for counting. Mildew and frequent counting machine breakdowns further complicated the process.
A SBI employee said, “we have never seen so much cash in our lives. Generally, a branch deals in ₹ 1-2 crore. After a point, the volume of cash did not excite us. They appeared like pieces of paper.” This is probably the highest ever cash seizure made by the Income Tax department in a single case.
The raids are linked to Boudh Distillery, which has been in the business for over 100 years. The Sahu family which is headed by Rai Saheb Baldeo Sahu took the business to great heights. Distillery units in the western Odisha districts of Balangir, Bargarh, Sambalpur and Sundargarh are under I-T probe.
After counting, I-T officials will start connecting dots by seeking information about the source of the cash from the distillery promoters.
The seizure is linked to Congress’ Rajya Sabha MP from Jharkhand, Dhiraj Prasad Sahu. The Sahu family home in Lohardaga, Jharkhand was also searched. Union Education Minister Dharmendra Pradhan on Sunday said no one involved in the case would be spared .
