IT raids on Odisha liquor baron Bikram Sahoo enter second day; Rs 7 crore cash seized
Bhubaneswar: The Income Tax (IT) department continued its sweeping raids for the second consecutive day on the properties of Odisha-based liquor magnate Bikram Kishor Sahoo, uncovering unaccounted cash amounting to approximately Rs 7 crore.
The extensive searches, conducted across 15 locations linked to Sahoo, are part of an ongoing probe into alleged tax evasion. Officials have raided properties in Bhubaneswar, Puri, Angul, Talcher, Kamakhyanagar, and Paralakhemundi, scrutinising financial records and potential undisclosed assets.
Sahoo was detained at his residence in Karadagadia, Angul, and remains under the custody of tax authorities as the investigation progresses. Sources indicate that apart from the Rs 7 crore seized, authorities have found additional financial irregularities at other premises.
A well-known businessman, Sahoo’s ventures extend beyond the liquor trade. He recently acquired a luxury hotel in Puri for Rs 35 crore and owns another hotel in Angul, along with a liquor distribution depot and a petrol station.
Despite the high-profile nature of the case, the IT Department has yet to issue an official statement on the findings. The raids are expected to continue as officials assess the extent of alleged tax violations.
