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HomeNewsIncome Tax raid on 20 locations of Mayur Group in Kanpur

Income Tax raid on 20 locations of Mayur Group in Kanpur

In a comprehensive series of tax raids that took place in several cities, including Mumbai, Surat, Kolkata, Madhya Pradesh, Uttar Pradesh, and Delhi, a massive sum of Rs. 6 crore in cash and a trove of gold were recovered from a clandestine chamber. The targeted entity was the well-known Mayur Group, a Kanpur-based conglomerate known for producing vegetable oil, culinary treats, and packaging solutions। The unremitting pursuit of justice involved a formidable force of 150 officers।

During the early stages of the raid, a remarkable discovery was made inside the Mayur Group’s proprietor, the mysterious Manoj Gupta,’s home। These valuable cash and gold coins were secretly hidden in a chamber hidden behind a huge, elaborate mirror, which shows the clandestine nature of the business।

According to sources close to the matter, the Mayur Group had allegedly presented a significant loan of Rs. 25 crores from an entity that, surprisingly, only exists in fiction। The group is now under suspicion for allegedly securing loans from shadowy businesses based in Kolkata and Mumbai। Reports of false acquisitions from entities that don’t even exist are also confusing, raising suspicions of a coordinated attempt to launder money।

The tax authorities have said that the Mayur Group might have been using the South Asian Free Trade Area (SAFTA) agreement to avoid paying customs duties। Additionally, there is a suspicion that the group was secretly transferring its unlawful wealth into the real estate sector, a cruel act that would have serious consequences।

With its headquarters in Kanpur, the Mayur Group has been a prominent presence for more than three decades। It is a formidable player in the culinary and packaging industry, thanks to its expansive operations that produce soya chunks, atta, besan, sooji, maida, poha, dalia, refined soybean oil, kacchi ghani mustard oil, refined rice bran oil, and filtered groundnut oil।

 

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