Income Tax department sleuths on Thursday conducted searches at four outlets of two jewellery-making groups here and recovered incriminating documents suggesting suspicious dealings.
The searches were carried out by 30 officers. According to an official, they have recovered several incriminating documents and are examining the papers.
The searches came against the background of a number of people thronging jewellery shops at various places to buy gold with Rs 500 and Rs 1000 notes, immediately after the announcement of their recall was made by Prime Minister Narendra Modi on November 8.
The shops had remained open till wee hours of November 9 and the jewellers reportedly made huge money, drawing attention of I-T department.