IT recovers Rs 4.92 cr in a raid at Thane near Mumbai

New Delhi, Aug 23 (UNI) Investigation wing of the income tax department yesterday recovered Rs 4.92 crore cash during search conducted on persons and firms engaged in mobilising deposits for investment schemes and auto finance at Thane in Maharashtra.

The cash was found stacked in the residence of an employee of the main company, a statement by the Union Finance Ministry said here today.

Further investigations and scrutiny of seized documents are in progress, it added.

UNI