After Rolls Royce And Porsche, Rs 2.5 Crore Diamond Watch Seized From Tobacco Baron
New Delhi:
After establishing itself as a key player in the tobacco industry, the Banshidhar Company has come under the radar of Income Tax authorities who are working round the clock to unravel the company’s web of deception. The department today carried out raids at the home and offices of the company’s head KK Mishra.
Banshidhar Tobacco Private Limited is a major player in the tobacco industry and is known for supplying products to major pan masala groups. Reports suggest that the company has a declared income of Rs 20 to 25 crore when the actual turnover was pegged at Rs 100-150 crore. The searches so far have revealed a trail of clandestine dealings and opulent lifestyles.
In today’s raids, the agency seized several expensive watches belonging to Shivam Mishra, the scion of the tobacco company. One of the watches, diamond-studded, is worth nearly Rs 2.5 crore rupees, sources in the agency said.
Seven crore rupees in cash, along with jewellery and other assets, have also been seized, intensifying the scrutiny on the group’s financial affairs.
The agency has already seized a collection of luxury cars, all bearing the number plate ‘4018’, from Shivam Mishra’s home in Delhi’s Vasant Vihar.
Fifteen to 20 teams carried out raids across five states, metaphorically shaking down every tobacco leaf linked to Banshidhar Tobacco Company, to stumble upon a treasure trove of luxury cars worth a staggering Rs 50 crore; among them, a Rolls-Royce Phantom, priced at a cool Rs 16 crore, found at Shivam Mishra’s home in Delhi’s Vasant Vihar.
The raids, being executed with military precision, reveal an empire built on deceit and financial manipulations. There is a major gap between the company’s declared income and the actual turnover and the officials believe that they hid their money using offshore accounts and manipulated ledgers, sources said.
KK Mishra, the once-untouchable patriarch, now finds himself entangled in a web of his own making. The Banshidhar Tobacco Limited, once an impenetrable fortress, now stands exposed, its foundations cracked, and its secrets laid bare.
