It is reported that money was recovered in such large quantities that even the machine counting it broke down. Let us tell you that sophisticated currency verification and processing machines are used for counting the notes. This cash counting machine is more secure and faster.
Raids are going on at the bases of companies linked to Jharkhand Rajya Sabha MP Dheeraj Sahu . It is being told that more than Rs 300 crore cash has been found from the hideout of Dheeraj Sahu’s close relatives. The Income Tax Department’s raid in this case related to the Congress leader of Jharkhand continues for the third day and the raid is likely to continue for two more days.
According to reports, the big machines that started counting these notes filled in 30 shelves also failed. It is reported that money was recovered in such large quantities that even the machine counting it broke down. Let us tell you that Sophisticated Currency Verification and Processing (CVPS) machine is used for counting the notes. This cash counting machine is more secure and faster. This machine is expert in identifying the value of notes and real and fake ones. RBI issued a statement saying that these machines are much better than counting machines.
What are the provisions?
It is said that it will take at least three days to count the notes recovered in the raid. After counting of notes and matching them with the statutory holding of cash by the business group, the excess cash will be confiscated. After this, legal action will be taken under the provisions contained in the Income Tax Act.
The raid took place on December 6
The investigation branch of Odisha Income Tax Department had started raids on the premises of companies belonging to BDPL business group on December 6 on charges of tax evasion. The Boudh Distillery Private Limited (BDPL) business group comprises four companies – BDPL, Baldev Sahu Infra Ltd, Kwality Bottlers and Kishore Prasad-Vijay Prasad Beverages Ltd. Baldev Sahu Infra deals in fly ash bricks, while all the remaining companies are related to liquor trade.