Ranchi, July 22: The income tax (I-T) department today conducted raids and searches for alleged tax evasions on the offices, factories and residences of two well-known business families of Ranchi popularly referred to as the "Rice King" and "Steel King".
The raids began simultaneously on the property of Sahu brothers, Manish Sahu, Yogesh Sahu, Sudhir Sahu and Gyan Sahu, who jointly own Baba Rice Mills, and the reputable Modi family around 8.30 in the morning.
Around four dozens I-T officials searched the production unit of Baba Rice Mills at Nagri besides searching its offices at Mangal Murti Heights in Harmu and also Upper Bazar area.
Raids were also conducted at four flats owned by the Sahu brothers at Krishna Apartment on Ratu Road and two residential units at Shivangi Apartment in Lalpur Chowk area.
Baba Rice Mills has another production unit at Ormanjhi in Ranchi, an office in Bistupur locality of Jamshedpur and on Jawa Kushum Road in Calcutta, all of which were raided by I-T officials.
An official, who was part of the raiding team, said that Rs 65 lakh in cash was found from the flats at Krishna Apartment and around Rs 4 lakh from other residential and business property of the Sahus.
"As many as 15 bank passbooks were confiscated too. The banks concerned have been asked to provide transaction details of all these accounts. Papers related to purchase of immovable property were also seized along with computer hard disks, records and ledgers related to sale, purchase and production," the official added.
Another official added that over the past two months, the state I-T department had been working on intelligence inputs that the Sahus owe undisclosed property. The raids were a follow-up action.
The Sahus are not the only ones facing heat for alleged tax irregularities.
I-T officials also raided shops - Nani Steel, Nani Metals and Nandlal Keshar Dev - belonging to the Modi family mainly involved in sale, purchase and production of steel utensils, in Upper Bazar locality of Ranchi.
The Modis also have a steel utensil production unit in Tupudana area, which was also searched by I-T officials.
However, details of items and papers seized are not available yet.
"These are big operations, which will continue. Income tax returns filed by the two business houses don't match with their actual income and turnover. Only after proper and thorough assessment, the actual extent of tax evasion can be established," an I-T official told The Telegraph, requesting anonymity.
The I-T department, having learnt its lesson from the October 2013 episode wherein its officials were beaten up while they had gone to raid Trade Friend, owned by Vimal Singhania and his brothers Kamal and Jai, at Upper Bazar, took police protection this time. A huge number of police personnel were deployed outside all the shops, business premises and residences raided today.
