Secret wall with gold, ₹50 lakh cash found in IT raid on Kanha Group in Jaipur

In a dramatic turn during an ongoing Income Tax Department crackdown in Rajasthan, investigators unearthed a secret wall concealing a strongroom filled with gold jewellery at the premises of the Jaipur-based Kanha Group. The discovery was made on the third day of coordinated raids across multiple locations, during which officials also recovered ₹50 lakh in cash and key documents pointing to alleged large-scale tax evasion.

The department launched searches at 33 locations across six cities, with Jaipur accounting for 26 of them. Raids were also conducted in Udaipur, Sriganganagar, Kota, Karauli, Hindaun and Mumbai. The operation targeted the Kanha Group, a prominent food and beverage company founded in 2008 by Natwar Lal Sharda and known for its sweets, namkeens and bakery products.

According to investigators, suspected tax evasion amounting to over ₹100 crore was allegedly channelled into investments in luxury properties, including two five-star hotels in Jaipur — Hotel Taj (Amer) and Kundan Van — where documents are being scrutinised. The hidden chamber discovered behind a wall has led officials to suspect a well-planned attempt to conceal undisclosed wealth. The seized gold jewellery is yet to be officially valued.

Officials have also identified more than 10 bank lockers linked to the group. These lockers are believed to contain documents related to disputed high-value properties and possibly additional gold holdings. The findings have significantly widened the scope of the probe.

Despite the extensive searches, business operations at Kanha restaurants continued without interruption. The Income Tax Department had directed that customer services remain unaffected even as teams examined financial records, bank accounts and digital data. The action followed prolonged surveillance and intelligence inputs suggesting large-scale financial irregularities.