Rs 8 cr cash recovered from MP businessman`s house, including Rs 1 cr hidden in water container during I-T raids

The raid continued for 39 hours.

Damoh: The Income Tax Department raided the house and properties of liquor businessman Shankar Rai and his family in Damoh and confiscated Rs 8 crore cash and 3 kilograms of gold. 

It also seized incriminating documents.

"The Income Tax Department has seized Rs 8 crore in cash from the Rai family which also included a bag containing Rs 1 crore in cash stuffed in a water container. Besides, three kilograms of gold was also confiscated", Munmun Sharma, Joint Commissioner of Income Tax Department, Jabalpur who headed the I-T raid, said on Friday. 

After the operation was over, the Joint Commissioner told, "The physical raid is over and that investigation will continue on the basis of the documents seized from the Rai family which would be done in Bhopal."

"The department will now investigate the seized documents and unnamed properties. So, we will have to wait for the final figure", said The Joint Commissioner.

The raid which started at 6 am on Thursday continued for 39 hours. 

The Tax officials raided more than ten places belonging to Shankar Rai`s family.

Businessman Shankar Rai is a Congress leader and former Municipality President, while his brother Kamal Rai is a BJP leader who had been Vice President of the Municipality. 

"Besides the liquor business, the Rai family also has a money lending business along with transport, hotel, bar and petrol pump", said Munmum Sharma.