Income Tax Raids on Kanha Restaurant Group Enter Fourth Day, Gold Worth Rs 7.5 Crore Seized
The Income Tax Department's extensive search operation targeting the Kanha Restaurant group has now entered its fourth consecutive day, with officials confirming the seizure of significant unaccounted assets. The multi-city crackdown, which began early Wednesday, has so far resulted in the formal confiscation of gold valued at approximately Rs 7.5 crore and Rs 25 lakh in cash.
Widespread Raids Across Multiple Cities
The investigation wing of the Income Tax Department in Jaipur launched coordinated searches at 33 different locations linked to the prominent restaurant chain. These premises spanned across Jaipur, Mumbai, and several other cities, marking one of the department's most extensive operations in recent times. As of Saturday evening, operations had been completed at 26 locations, while action continued at seven specific properties within Jaipur.
Discovery of Concealed Chamber and Hidden Assets
One of the most dramatic discoveries occurred on Friday at a Jaipur property, where investigators uncovered a cleverly concealed chamber hidden behind a large wall. Inside this secret room, officials found ten small lockers containing jewellery with an estimated value of around Rs 5 crore, along with Rs 25 lakh in cash. Following immediate on-the-spot verification of available documents, the department proceeded to seize these unaccounted assets.
"The concealed chamber was expertly hidden, suggesting deliberate attempts to evade detection," revealed an officer involved in the operation, speaking on condition of anonymity. "The recovery of such substantial assets from a hidden location raises serious questions about financial transparency."
Total Assets Detected and Formal Seizures
Throughout the ongoing search operation, the Income Tax Department has detected assets with a total estimated value far exceeding the formal seizures. Preliminary findings indicate the presence of gold worth approximately Rs 11 crore, cash amounting to Rs 1.25 crore, and details of ten separate bank lockers. However, after initial scrutiny of documents submitted by the Kanha group representatives, authorities have formally seized gold valued at Rs 7.5 crore and Rs 25 lakh in cash.
Verification procedures for the remaining detected assets are currently underway, with officials indicating that further seizures may follow as documentation is thoroughly examined. The identified bank lockers are scheduled to be opened in the coming days, with their contents to be properly valued and assessed for potential irregularities.
Expanded Investigation into Hospitality Operations
Investigators have significantly broadened the scope of their inquiry beyond the immediate search operations. Authorities have specifically requested comprehensive records of high-profile weddings and major events hosted over the past three years at hotels operated by the Kanha group. This expanded focus suggests the department is examining potential discrepancies in revenue reporting and financial transactions related to the group's hospitality business.
"The examination of event records could reveal substantial movable and immovable assets that may emerge during the continuing probe," noted officials familiar with the investigation. "Large-scale hospitality operations often involve complex financial arrangements that require detailed scrutiny."
Expected Conclusion and Next Steps
The Income Tax Department anticipates concluding the physical search proceedings by Sunday evening, after which a detailed assessment phase will commence. This subsequent phase will involve comprehensive analysis of all seized documents, digital evidence, and financial records obtained during the raids. Following this assessment, appropriate legal action will be determined based on the findings.
The ongoing operation against the Kanha Restaurant group represents a significant enforcement action by tax authorities, highlighting increased vigilance regarding potential tax evasion in the hospitality sector. The scale and duration of the raids underscore the seriousness with which authorities are approaching allegations of financial irregularities.
