Major I-T raid underway at flex printing unit in Odisha Capital; cash of over Rs 2 Crore seized
Bhubaneswar, May 9 -- A team of I-T (Income Tax) sleuths carried out a major raid yesterday on a flex printing unit named 'Jain Media' located on Plot No-765 at Buddheswari Colony under Laxmisagar police limits in Bhubaneswar, ahead of the simultaneous polls to Lok Sabha and Legislative Assembly in Odisha.
More than Rs 2 Crore of cash has been seized so far and the search operation is underway today.
A businessman who owns the flex printing unit was identified as Ranjeet Jain from the locality.
Allegedly, the I-T Department was tipped off that Jain had stacked a huge cache of currency notes in his house. I-T officials suspect that the cash was kept in reserve for use during upcoming elections.
According to a source, flex printing of a...
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