Mumbai: The Income Tax authorities on Thursday said they have completed the valuation of gems and jewellery found on Monday during a search operation outside Mumbai Central railway station here.
"Our valuation is complete and we have found that the jewellery was worth Rs 25 crore while diamond and other stones were valued at Rs 100 crore," IT sources said.
Four trucks carrying over 150 bags of cash and other valuables were seized by the investigating wing of Income Tax and National Investigation Agency on Monday night following a tip-off on fake currency.
Yesterday, the IT sources had said that value of cash seized was around Rs 11 crore and no fake currency was found during counting.
Sources said they are in the process of releasing jewellery and gems to jewellers after verification of documents.
"We will not be releasing the cash as of now as investigation regarding hawala is still on," they said.
Around 45 people, allegedly carrying bags on board of trucks, have been questioned by NIA in connection with the haul.
The occupants were supposed to board a train to Gujarat with the bags, sources had said.