Digboi: The Income Tax (IT) Department on February 3 carried out a coordinated crackdown on the business network of industrialist Ratan Sharma, conducting simultaneous raids across multiple locations in Arunachal Pradesh and Assam in connection with an alleged tax evasion probe.
According to a report published by The Miao Times (TMT) on February 4, the wide-ranging operation targeted key industrial hubs at Kharsang in Changlang district and Tippi in West Kameng district, signalling intensified scrutiny of Sharma’s industrial and mining-linked enterprises.
In Tippi, IT officials, backed by central armed police forces, conducted searches at the premises of Platinum Alloys Private Limited, a ferro-silicon manufacturing unit. Officials examined financial documents, digital records, and transaction data as part of what sources described as an in-depth investigation into suspected irregularities.
Almost simultaneously, another IT team carried out searches at Kharsang Industry LLP, a coal-based coke manufacturing unit located in Kharsang. As reported by TMT, the unit has a 10 per cent equity stake held by the Arunachal Pradesh Mineral Development & Trading Corporation Ltd (APMDTCL), a state government undertaking, adding an additional layer of sensitivity to the probe.
In Kharsang, the IT Department sought assistance from local police, who accompanied officials to ensure security and maintain order during the operation.
The searches were not limited to Sharma’s enterprises alone. TMT reported that the business interests of Navin Singhal of Coal Pulz Pvt Ltd were also searched. Coal Pulz Pvt Ltd is a joint venture between Singhal and Sharma and had earlier secured mining rights for the Namchik–Namphuk coal block.
Despite the scale of the operation, the Income Tax Department has not issued any official statement so far. Authorities have neither disclosed the number of premises searched nor detailed the precise nature of the alleged financial irregularities under investigation.
“The Income Tax Department conducts such operations independently and does not usually inform local authorities in advance. However, whenever assistance is sought, particularly for security, we extend full cooperation,” a senior official based in Itanagar was quoted as saying.
TMT further reported that Ratan Sharma and his family have extensive industrial interests across Arunachal Pradesh. These include Platinum Alloys Pvt Ltd at Tippi; SMS Smelter Ltd and Shree Salasar Industries at Lekhi; and multiple units at the Banderdewa Industrial Estate, such as Satyam Ispat (North East) Limited, Satyaratan Ispat, Sunshine Industries, and Satyam Steel and Alloys.
As searches continue across multiple districts and interconnected business entities, the operation is being viewed as one of the most significant Income Tax actions in the region in recent times. Further details are expected once the department concludes its investigation and issues an official briefing.