Odisha's DN Group is under investigation by the Income Tax Department for suspected significant tax evasion. The multi-sector company has faced raids at 20 locations, with Rs 9 crore seized from an employee's residence and evidence of transactions worth Rs 105 crore. The situation has triggered a political row, with the opposition alleging ruling party investments in the DN Group. Meanwhile, a company representative has stated they will withhold comments until the conclusion of the raids.
Odisha's prominent real estate conglomerate, DN Group, is currently under the radar of the Income Tax (IT) Department for allegations of significant tax evasion. The investigation has continued into its second day, with officials carrying out intensive raids at around 20 locations linked to the firm.
Although the IT Department and DN Group have yet to officially comment on the ongoing situation, insider sources disclosed that the raiding operation extended to the residences of the company's director and personnel, along with the main office located at IRC Village. Notably, the operation reportedly led to the confiscation of cash amounting to Rs 9 crore from the dwelling of one employee at Unit-4.
According to these sources, the same employee was taken into custody for further questioning by IT officials. During their extensive search, the officials also uncovered company documents that suggested transactions totalling approximately Rs 105 crore.
Simultaneously, the IT raids have sparked political controversy, with the BJP and Congress Opposition parties criticizing the ruling BJD, headed by Chief Minister Naveen Patnaik. DN Group's CEO, I P Nayak, had accompanied Patnaik on his Japan tour earlier this year.
Senior Congress leader and MLA, SS Saluja, alleged that several ruling party leaders have made investments in DN Group, leading to its protection. BIP spokesperson Anil Biswal also insinuated the chief minister's office's backing for DN Group, criticizing its involvement in corruption. However, a BJD MLA firmly denied these allegations.
In conclusion, the investigation into the DN Group continues, with both the company and the IT Department maintaining their silence. The findings, implicating a considerable amount in suspicious transactions and seized cash, are already causing political ripples, forcing the ruling party to defend its position. The outcome of this case could have considerable implications for both business and political landscapes in Odisha.
This story was earlier published by Press Trust of India (PTI)
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