MUMBAI: The Income Tax Department on Saturday seized unaccounted money worth several crores during a raid conducted at a jewellery shop in Nashik. Nearly Rs 26 crore in cash and documents of benami assets worth Rs 90 crore were seized during the raid conducted at Surana Jewellers in Nashik.

According to reports, the money was found hidden inside a sofa and beneath a bed in one room in the jewellery shop. Surana Jewelers is owned by Mahalakshmi Builders, a prominent construction company in Nashik. The officials also raided the house of the proprietor of the jewellery. Officials said they are examining all the financial transactions related to the company.

The authorities conducted the raid following suspicions of financial irregularities by the proprietor, the reports said. It is said that the raids continued for nearly 30 hours.