Search And Scrutiny: Income Tax Department Raids Confidence Petroleum Over Alleged Violations

Image Source : Nagpur Today

The Income Tax Department is conducting search and seizure operations at Confidence Petroleum India Ltd over suspected licensing and financial violations. Raids span multiple locations in Nagpur and Mumbai, targeting LPG and CNG operations. Allegations of misconduct during the raids have surfaced, but remain unverified. The investigation is ongoing.

The Income Tax Department has launched a multi-day search and seizure operation targeting Confidence Petroleum India Ltd and its associate firm Confidence Futuristic. The raids, which began on October 7, 2025, span multiple locations in Nagpur and Mumbai and are part of a broader investigation into suspected financial and licensing irregularities.

Operation Highlights

- The searches are focused on the company’s LPG and CNG operations under the Go Gas brand

- Officials from the Directorate of Investigation (Mumbai) are inspecting warehouses, offices, and residences linked to the company’s leadership, including CMD Nitin Khara and director Elesh Khara

- Preliminary findings suggest possible violations related to unlicensed storage and trading of LPG cylinders

- Approximately 75 income tax officers and 45 police personnel have been deployed across sites, including the company’s head office and residential premises in Ramdaspeth and Ganeshpeth

- Documents, cash, and jewellery have reportedly been seized, though no official statement has been released by the company or the department

Escalating Allegations

- An anonymous email sent to media outlets alleges misconduct during the raids, including dismantling of CCTV cameras and coercion of company executives

- The email claims a senior executive was pressured to sign a statement admitting ₹300 crore in unaccounted cash and was allegedly assaulted

- Allegations also include deletion of digital evidence and unlawful detention of consultants not directly under investigation

- These claims remain unverified and have not been acknowledged by the Income Tax Department

Historical Context

- This is not the first time Confidence Petroleum has faced scrutiny; similar raids were conducted six years ago over alleged irregularities in stock handling

- The company has yet to issue a formal response or clarification regarding the current investigation

- Industrialist Nitin Khara, known for his role in expanding Go Gas across India, is reportedly under close examination

Outlook

- The ongoing operation may have implications for the company’s regulatory standing and investor confidence

- Authorities are expected to release findings once the investigation concludes

- If proven, the alleged violations could lead to penalties, license revocations, or further legal action

Sources: MSN India, Nagpur Today, Zee Business, UNI India

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Search And Scrutiny: Income Tax Department Raids Confidence Petroleum Over Alleged Violations

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