The investigation wing officials of the Income Tax (I-T) department said that they had recovered ₹56 crore in cash from the premises of three footwear manufacturers in Agra.
The I-T operation would conclude on Tuesday when the seized cash is deposited in the bank, officials said
An I-T official, directly involved in the search and seizure operation, confirmed the recovery of ₹56 crore in cash. Additionally, the operation unveiled documents exposing unrecorded business transactions by the three firms.
Out of the total cash seized, ₹53.5 crore was retrieved from Har Milap Traders, with the remaining amount recovered from BK Shoes and Manshu Footwear.
Under the direction of Joint Director Dr. Amar Jot of the I-T department in Agra, the search commenced on Saturday afternoon. A team comprising approximately 80 staff members, led by Deputy Directors Pankaj Kumar and Ashima Mahajan, conducted the search across the footwear traders’ premises.
Nearly a dozen counting machines were utilized to tally the seized currency notes, with officials noting the completion of counting for ₹500 denomination notes by Monday. However, an additional day was deemed necessary to facilitate the deposit of the ₹56 crore into the bank.
The operation targeted three footwear business establishments situated across MG Road, Dhakran, Hing Ki Mandi, and Surya Nagar. The I-T department’s team involved in the operation hailed from Agra, Kanpur, and Lucknow.