50 lakh cash seized in IT raids involving Hemant Soren's aide, suspicious transactions of 150 Cr found

The Income Tax Department seized documents revealing suspicious transactions of approximately Rs 150 crore and confiscated Rs 50 lakh in cash in an ongoing raid involving Sunil Srivastava, a senior aide to Jharkhand Chief Minister Hemant Soren. As a result, 150 bank accounts have been frozen, with findings indicating a vast network of undisclosed assets and companies abroad.

Investigations highlight that Srivastava and his family members conducted high-value transactions through companies such as M/s Global Infra, where his wife Satya Srivastava has a 50% stake. Suspected money-laundering transactions amounting to Rs 25 crore were allegedly conducted to legalize undeclared assets, with paper companies used for black money legitimization.

Bank records show M/s SDM Sales managed transactions exceeding Rs 40 crore, despite not filing returns for two years. M/s ADM Sales—where Srivastava and business associate Dinesh Mandal each hold equal shares—was also implicated in additional suspicious transactions.

Additionally, Sunil Srivastava previously held a 70% stake in M/s Vyom Infra, which now is held by his son Shashank following a recent transfer. This company reportedly carried out transactions totaling Rs 20 crore.

Mandal, who reportedly runs M/s Spazio Plus General Trading LLC and M/s Quality Life Scientific Office LLC in Dubai, did not declare these entities in his tax returns. Summoned by the Income Tax Department, Mandal returned to Ranchi for questioning.