The Income Tax department on Saturday recovered around Rs. 40 crore in cash during raids linked to shoe manufacturing businesses in Agra.
According to officials, the counting of the seized cash is currently underway, and the amount is expected to increase.
The officials added that the shoe trader’s associated entities were raided in the afternoon.
The raids, during which huge amounts of cash were recovered, were conducted at least at three shoe traders in the city of Uttar Pradesh, as per India Today report.
Officials also discovered several bundles of Rs 500 notes at the residence of a footwear company owner. Bank officers and employees were called to count the notes.
(With inputs from agencies)
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