Four trucks carrying 102 bags containing cash and diamond and gold jewellery were seized in a joint operation by the National Investigation Agency (NIA) and the Income Tax (I-T) department at the Mumbai Central railway station late on Monday night.

The consignment, estimated to be worth around Rs. 150 crore, was being sent to Gujarat. It was escorted to the railway station by the Mumbai police, as is the usual practice when consignments of this nature are transported.

The NIA had received a tip-off about money being sent to Gujarat through the hawala route, allegedly to fund terror activities. It was suspected that the consignment contained fake currency as well. The NIA shared the information with the I-T department.

By Tuesday afternoon, sources in the NIA said an initial probe revealed no evidence of funding of terror activities or fake currency. The agency was questioning 40 men detained during the seizure.

Consignments such as these are routinely sent by diamond merchants in Mumbai. Agents known as Angadiyas (couriers) transport uncut diamonds and jewellery to Surat and other parts of Gujarat, where they are given the finishing touches. When the consignment reaches a pre-determined merchant in Gujarat, the Angadiyas get a certain amount as commission.