Sahara Group IT Raid 2014: Over Rs 135 Crore Cash and Jewellery Seized in One of India’s Biggest Tax Raids

In November 2014, the Income Tax Department executed one of the most significant IT raids in India’s history, targeting the Sahara Group’s offices in Delhi and Noida. Authorities claimed to have seized cash exceeding Rs 135 crore alongside jewellery valued at around Rs 1 crore during the operation.

The raids were carried out based on intelligence inputs indicating the presence of large amounts of unaccounted cash linked to suspected tax evasion. The cash found was reportedly deposited in a public sector bank branch in Delhi by the IT officials.

Representatives from Sahara Group contested the exact figures, stating, “The amount mentioned is not correct. However, every penny is legitimate company money.” They explained the cash was kept at various locations to manage emergency expenditures, especially during a time when their accounts were frozen for 20 months under SEBI restrictions.

The department’s action included seizing electronic records, documents, and financial data, initiating proceedings under the Central Board of Direct Taxes. The case also prompted the Enforcement Directorate to investigate potential hawala transactions linked to the substantial cash holdings.

This monumental raid was part of a broader crackdown on tax evasion and money laundering, highlighting the government’s intensified efforts to enforce financial transparency among large corporate groups.

The Sahara Group, led by Subrata Roy, has faced prolonged legal scrutiny, including Supreme Court directives to refund investor money. This raid remains a landmark example of regulatory vigilance in India’s fight against undisclosed wealth and financial irregularities.

This event marked a turning point in India’s tax enforcement history, underscoring the authorities’ commitment to curbing tax evasion in high-value corporate sectors.​