Four trucks carrying over 150 bags of cash and other valuables have been seized by the investigating wing of Income Tax and National Investigation Agency from outside the suburban Mumbai Central Railway Station.
The amount of seizure is yet to be ascertained and NIA officials are probing the money trail.
The trucks seized last night, after a tip off received by NIA, were on their way to Gujarat, I-T officials said on Tuesday.
"Four trucks containing more than 150 bags have been seized and around 40 people have been detained," they said.
According to sources, each truck with 15 people on board, was carrying around 35 bags, allegedly stuffed with cash and valuables.
I-T officials said that so far, 50 bags containing cash have been scrutinised and they are looking into the contents of the remaining.
Prima facie the cash appears to be part of hawala transaction, to be carried to Gujarat from Mumbai, they said.
While I-T sleuths impounded the truck and bags, NIA picked up the occupants, who were supposed to board a train to Gujarat with the bags.