New Delhi: Rolls Royce, Porsche, Lamborghini – all adorned with ‘4018’ on their license plates, and before them stands a man exuding the flamboyance reminiscent of Hrithik Roshan’s character in a popular song from ‘Kaho Na Pyaar Hai’. He is Shivam Mishra, scion of a tobacco company at the center of multi-state raids by the Income Tax department.The raids, reminiscent of a cinematic spectacle, were conducted across five states, targeting every facet of the Banshidhar Tobacco Company.
The Income Tax department conducted a series of raids on Banshidhar Tobacco Company, uncovering a labyrinthine network of financial manipulations stretching across various states and even overseas. The raids, spanning 20 locations including Kanpur, Delhi, Mumbai, and Gujarat, have brought to light alleged irregularities in the company’s reported turnover, with sources indicating a staggering disparity between the declared income and the actual turnover.
At the core of the scandal lies KK Mishra, the patriarch of the tobacco business. Banshidhar Tobacco Private Limited is a major player in the tobacco industry and is renowned for supplying products to major pan masala groups. Reports suggest that the company has declared an income of ₹ 20 to 25 crore when the actual turnover was estimated at ₹ 100-150 crore.
Moreover, the raids have unearthed not only violations of Income Tax regulations but also blatant breaches of Goods and Services Tax (GST) protocols, further exacerbating the legal woes surrounding the company.
