Lucknow, Jan 24 (IANS): Officials of the Income Tax (I-T) department raided the premises of four businessmen in the Rakabganj area of Lucknow.

The raids were conducted on Sunday. Sources privy to the raids claimed that businessmen had carried out 'Hawala' transactions.

The raids began on the premises of businessmen in Rakabganj after the recovery of Rs 65 lakh from a car during checking in Gonda on Friday night.

Policemen posted at Bhabua outpost under Karnailganj Kotwali in Gonda district had recovered about Rs 65 lakh in a car.

The information was further shared with the Income Tax department.

I-T department sources said during interrogation of the two car passengers it came to fore that the cash was routed through Hawala and had its origin from Lucknow.

Thereafter, teams raided Rakabganj based traders.

Sources also claimed to have recovered Rs 3 crore from a businessman while the raids were still underway ill late on Sunday night.

I-T officials neither denied nor confirmed the amount seized.