The Income Tax Department on Sunday raided four establishments, including a factory, showroom, located in the square bullion square of a big trader of silverware and coins. The morning action created a stir in the bullion market. However, the market was closed due to Sunday. Action has been taken on getting over stock on a large scale. The officers of the Income Tax Department tallied the stock. Apart from this, a large number of documents, computers, laptops and hard disks have been seized.
Separate teams of Income Tax Department raided the showroom-factory located at Chowk Sarafa, KS Bullion at Chowk and Bobby Agarwal, owner of Kedarnath Shree Kishan firm. Along with this, action was taken at the residences of Nawabganj and Sarvodaya Nagar. The investigation was started by taking action at four places simultaneously.
Sources said that they do silverware work on a large scale. Their utensils are made from KS brand. Apart from this, the work of making coins and solid silver ingots with the same name is done. There is a factory in the square itself. The firm is registered before independence. Apart from Kanpur, their silver utensils go to different parts of the state.
Sources said that action has been taken on the information of massive over-stock of silverware, coins etc. Stock is also found on a very large scale. Due to the sudden action on Sunday, there were many discussions in the market. However, it is believed that the department has taken action after receiving huge inputs.