The Banshidhar Company, a prominent entity in the tobacco industry, has found itself at the center of a high-profile investigation by Income Tax authorities, shedding light on the company’s intricate financial dealings. The latest development unfolded with a series of raids conducted at the residences and offices of KK Mishra, the head of the Banshidhar Tobacco Private Limited.
Known for its significant presence in the tobacco market and supplying products to major pan masala groups, Banshidhar Tobacco Private Limited has raised eyebrows with its reported income of ₹ 20 to 25 crore, starkly contrasting with its suspected turnover ranging between ₹ 100 to 150 crore. These raids have unearthed a complex web of undisclosed transactions and lavish lifestyles.
During the recent raids, attention was drawn to the extravagant possessions of Shivam Mishra, the scion of the tobacco empire. Notably, a diamond-studded watch valued at nearly ₹ 2.5 crore was among the seized items, alongside a substantial amount of cash, jewelry, and other assets, intensifying the ongoing scrutiny into the group’s financial affairs.
The investigation has revealed a string of opulent acquisitions, including a fleet of luxury cars, all bearing the distinctive ‘4018’ number plate, discovered at Shivam Mishra’s residence in Delhi’s Vasant Vihar. Among these vehicles was a Rolls-Royce Phantom, valued at a staggering ₹ 16 crore, underscoring the scale of extravagance associated with the tobacco magnate’s family.
These meticulously orchestrated raids, spanning across five states and involving fifteen to twenty teams, have exposed a hidden wealth estimated at ₹ 50 crore, signifying a stark contrast between declared incomes and actual turnovers. Officials suspect the use of offshore accounts and manipulated financial records to conceal vast sums of money.
KK Mishra, once regarded as an untouchable figure in the industry, now finds himself ensnared in a web of his own creation. The Banshidhar Tobacco Limited, once regarded as impregnable, now stands exposed, its pillars weakened, and its secrets laid bare under the relentless scrutiny of investigative authorities.
