Acting on a tip-off, the ED sleuths swooped down on the premises of the owner of Swami Devi Dyal Group of Institutes in Chandigarh last night, ED officials said.
The seizure included Rs 46.80 lakh in Rs 2,000 denomination notes, they said.
The owner claimed that the money which was seized was part of fee received from students, officials said, adding that they are verifying the claim.
Meanwhile, the ED has referred the case pertaining to the recovery of cash from a tailor to the Income Tax department for further investigation.
In the second operation on December 16, the sleuths recovered about Rs 30 lakh cash including Rs 18 lakh in new currency along with 2.5 kg gold from the premises of a tailor in Chandigarh.
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