Nagpur: In a major development, the Income Tax Department teams from Mumbai and Nagpur conducted raids on Tuesday at multiple premises linked to Confidence Petroleum India Ltd. and its Managing Director, Nitin Khara. The operation began early in the morning at the company’s headquarters — Confidence Tower, located in Ramdaspeth, Nagpur — and continued late into the night.
According to sources, the IT officials thoroughly examined balance sheets, ledgers, and other financial records, seizing several key documents during the search. The simultaneous raids were carried out at three locations — Confidence Tower in Ramdaspeth, an office at Satyam Apartment on Wardha Road, and the residence of a chartered accountant associated with the company in Anandam.
During the raid at the Ramdaspeth premises — which also houses Khara’s personal residence and office — family members and staff were reportedly not allowed to leave while officers reviewed documents well into the night.
Gold Rate
6 Oct 2025
Focus of Investigation
The IT team is said to be focusing on recent income patterns, expenditures, and ledger discrepancies, as well as financial transactions spanning the last few fiscal years. The operation may continue on Wednesday, sources added.
About Nitin Khara and Confidence Group
Nitin Khara is the Chairman and Managing Director of Confidence Group, a major player in the LPG distribution, bottling, and marketing sector. He began his business journey in 1982 with a small venture trading in steel utensils and household goods before entering the LPG business in 1997.
Under his leadership, the company grew rapidly, launching Gas Point Petroleum India Ltd. in 1998 and expanding into cylinder manufacturing units by 1999. The group now operates several entities, including Gujarat Cylinders Pvt. Ltd., Maharashtra Cylinders Pvt. Ltd., and Envy Cylinders Pvt. Ltd.
Confidence Group’s flagship brand, Go Gas, manages domestic and commercial LPG distribution across Maharashtra, Gujarat, Madhya Pradesh, and parts of southern India.
