The Income Tax department conducted raids on shoe manufacturing businesses in Agra, resulting in the recovery of approximately Rs. 40 crore in cash. The counting of the seized cash is currently underway, and it is expected that the total amount will increase.
Raids on Shoe Traders and Associated Entities
Officials revealed that the raids were conducted on the afternoon of Saturday, targeting not only shoe traders but also their associated entities. These raids have led to the discovery of significant amounts of cash.
Multiple Shoe Traders in Agra Subject to Raids
According to a report by India Today, the raids were carried out on at least three shoe traders in the city of Uttar Pradesh. The exact details of the traders involved have not been disclosed.
Discovery of Bundles of Rs. 500 Notes
During the raids, officials uncovered several bundles of Rs. 500 notes at the residence of a footwear company owner. To ensure an accurate count, bank officers and employees were called in to assist in the counting process.
The investigation is ongoing, and further details may emerge as the authorities continue their efforts.