Investigation opens as tobacco baron's extravagant lifestyle of supercars and diamond watches comes under scanner

After making a mark in the tobacco industry, the Banshidhar Company now finds itself under scrutiny by Income Tax authorities. In an effort to untangle the company's complex financial web, the department conducted raids at the residence and offices of the company's head, KK Mishra, today.

Banshidhar Tobacco Private Limited, a significant player in the tobacco industry and a supplier to major pan masala groups, is currently under investigation. Initial reports indicate that the company declared an income of Rs 20 to 25 crore, significantly lower than the estimated turnover of Rs 100-150 crore. The ongoing searches have unveiled a pattern of covert transactions and lavish lifestyles.

During the raid, Income Tax authorities seized a collection of high-end watches belonging to Shivam Mishra, the heir to the Banshidhar Tobacco Company. Among the watches confiscated, one adorned with diamonds is estimated to be worth nearly Rs 2.5 crore, NDTV quoted sources within the agency as saying.

In the ongoing investigation, Income Tax authorities have seized a substantial amount of Rs 7 crore in cash, as well as valuable jewellery and other assets. The focus on the group's financial affairs has heightened with these additional findings. Furthermore, a fleet of luxury cars, all registered with the distinctive number plate '4018', has been impounded from Shivam Mishra's residence in Delhi's Vasant Vihar.

In a meticulously executed operation involving 15 to 20 teams across five states, investigators unveiled a trove of luxury cars valued at an astounding Rs 50 crore. Notably, among the opulent collection was a Rolls-Royce Phantom, carrying a hefty price tag of Rs 16 crore, discovered at Shivam Mishra's residence in Delhi's Vasant Vihar. The raids, conducted with military precision, expose an empire founded on deception and financial manipulations. Authorities suspect a substantial disparity between the company's declared income and the actual turnover, suggesting potential money concealment through offshore accounts and manipulated ledgers.

Once considered an untouchable patriarch, KK Mishra now finds himself ensnared in a web of his own creation. The Banshidhar Tobacco Limited, formerly perceived as an impenetrable fortress, stands exposed, its foundations compromised, and its well-guarded secrets now laid bare.