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Income Tax sleuths conducted raids at the DN Group:Recovered Rs 30 cr cash

in Smartcity Bhubaneswar, State News July 5, 2023 Comments Off on Income Tax sleuths conducted raids at the DN Group:Recovered Rs 30 cr cash 610 Views

Bhubaneswar: 5/7/23:The Income Tax sleuths today conducted raids at the DN Group, a major real estate firm based in Bhubaneswar, on charges of evading tax.

The I-T officials started searches in the wee hours of Wednesday. Simultaneous raids are being carried out at seven places in Bhubaneswar including company headquarters at Nayapalli along with 25 other places across Odisha, reports said.

The residences of all staff of the company along with the house of director Jagadish Nayak have also been searched.

As per the latest report, the raiding team recovered Rs 30 cr cash from the house of Chandrasekhar Panda, a close aide of director Jagadish Nayak, at Unit IV area in the State Capital. Huge amount of cash were found kept inside three steel boxes and one suitcase, officials informed.

Some documents including bank accounts are being examined, they added.

Till the last report came in, the State-wide crackdown is continuing.

Notably, DN Group owns major housing projects and malls at posh areas in Bhubaneswar and outside the city.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.
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