A batch of luxury cars was recovered from Shivam Mishra’s house in Delhi.
New Delhi:
A Rolls Royce, a Porsche, a Lamborghini – all have ‘4018’ engraved on their license plate and in front of them stands a man with all the sparkle of Hrithik Roshan’s character in a hit song. ‘Why don’t you love me?’, He is Shivam Mishra, a scion of a tobacco company who is at the center of multiple state raids by the Income Tax Department.
The Income Tax Department conducted a series of raids on Banshidhar Tobacco Company, unearthing a complex web of financial manipulation that extends across different states and even abroad. Raids conducted at 20 locations including Kanpur, Delhi, Mumbai and Gujarat have revealed alleged discrepancies in the company’s reported turnover, with sources revealing a staggering difference between declared income and actual turnover.
Fifteen to 20 teams conducted raids across five states, symbolically shaking off every tobacco leaf linked to Banshidhar Tobacco Company, leading to a treasure trove of luxury cars worth Rs 50 crore; Among them, a Rolls-Royce Phantom, worth Rs 16 crore, was found at the house of Shivam Mishra in Delhi’s Vasant Vihar.
Other luxury cars recovered from Shivam Mishra’s house included a McLaren, Porsche and Lamborghini. IT teams have reportedly seized Rs 4.5 crore in cash along with several documents during the raid.
At the center of this scam is tobacco business patriarch KK Mishra. Banshidhar Tobacco Private Limited is a big player in the tobacco industry and is known for supplying products to leading pan masala groups. Reports suggest that the company’s declared income is Rs 20-25 crore while the actual turnover was estimated at Rs 100-150 crore.
The raids revealed that the company has not only evaded income tax laws but also violated Goods and Services Tax (GST) rules.
