Odisha Cash Recoveries, Enforcement Directorate Likely to Launch Probe

Bhubaneswar: Enforcement Directorate (ED) is most likely to investigate the suspected money laundering activity in the seizure of nearly Rs 350 crore by the Income Tax (I-T) department from liquor traders like Baldeo Sahu and Sons in Odisha.

On Tuesday, senior officials of the ED reportedly met some IT official in this regard in New Delhi.

Reliable sources said a three-member team of the ED led by its joint director visited the IT department office on Tuesday and a formal announcement about the ED probe into the huge cash seizure from liquor distilleries is expected soon. As per reports, the ED may probe certain aspects like the source and the trail of the cash.

Reports from Bolangir said, after marathon raids for seven days in Sudapada of Bolangir town, the I-T officials left the area on Tuesday. Before winding up the raids on the liquor manufacturing factory at Sudapada, the I-T team reportedly took two managers of the factory, Bunty Sahu and Rajesh Sahu, to an unknown location for interrogation about the sources of the cash.

Meanwhile, the State Bank of India (SBI), the help of which was sought by the I-T department to count the money seized from the liquor manufacturers, is reportedly finding it hard to take deposits of all the seized cash because of the inadequate space in its currency chest.

The currency chest at SBI’s Bolangir main branch has space to stock cash of Rs 350 crore for its everyday banking transactions. However, only seized cash from multiple places in Bolangir district has gone up to Rs 330 crore creating difficulty in storing it.

The bank officials have reportedly informed their seniors and the Reserve Bank of India (RBI) about the situation as the I-T raids are continuing even today. Sources said a large amount of cash and jewellery have also been seized from Titlagarh on Monday night.