Bhopal: The income tax (I-T) department raided four locations, including house and office, of a road contractor in Bhopal on Wednesday morning.Also Read - MP Farmer Strikes Rich, Stumbles Upon 11.88-Carat Diamond Worth Rs 50 Lakh in Panna Mine | Watch

The raids at the Arera Colony premises belonging to Nilay Jain unearthed Rs 1 crore in cash from his home. Also, Rs 70 lakh was recovered from Jain’s bank locker and approximately Rs 70 lakh worth of jewellery has been seized till now, said ANI. Also Read - UP Woman Thrown Out of Moving Train in MP's Chhatarpur For Resisting Molestation Bid

On Tuesday, the department had raided drug firm Divi’s Laboratories’ premises in Delhi. The firm said the raids were conducted at its head office and manufacturing sites between February 14-18. Also Read - Video: Former Madhya Pradesh CM Uma Bharti Vandalises Liquor Shop In Bhopal | Watch

“The company has extended full cooperation to the officials during the search and provided all the information sought. The search operation concluded on February 18, 2019, and no irregularities have been found,” Divi’s Laboratories said in a regulatory filing.

Late last month, the Enforcement Directorate (ED) raided the premises of a Kolkata businessman. Nilesh Parekh had allegedly duped nationalised and private banks of Rs 2,600 crore.

Parekh allegedly borrowed money from banks for manufacturing jewellery meant for exports and never repaid them. Sources said that ED would attach assets of the businessman.