THE JHARKHAND STORY DESK
Ranchi, January 29: The Income Tax Department’s Investigation Wing in Ranchi carried out raids at 45 locations linked to the Baba Group and rice traders across Jharkhand and Bihar, creating panic in the local rice market. The action is part of an ongoing income tax investigation into alleged financial irregularities.
According to sources, several chartered accountants and accounting staff associated with the targeted traders have gone missing following the raids. The Income Tax Department has launched a search operation to trace them.
Companies Under Scanner
The raids focused on Baba Agro Food and Baba Food Processing Private Limited, along with the business premises of multiple rice traders. Yogesh Sahu is the Managing Director of Baba Food Processing, while S. Mohanty, Raj Kumar Lakhotia, and Sanchita Jaiswal serve as directors. The company has a reported turnover of ₹300 crore and is listed on the stock market.
Baba Agro Food Turnover at ₹1,500 Crore
Directors of Baba Agro Food include Manish Kumar, Rakhi Sahu, Ekta Sahu, and Amit Kumar, with Gyan Prakash Sahu as the Chief Financial Officer (CFO). The company’s turnover is estimated at ₹1,500 crore. The Income Tax Department has also included the company’s directors in the scope of the raids.
Baba Agro Food is involved in the trade of regular and Basmati rice, while Baba Food Processing deals in flour, semolina, and refined flour.