The recovery was made from the Garden Reach residence of businessman Nisar Ahmed Khan, news agency ANI has reported citing said the officials on Saturday
The officials seized the amount which was found in 5 trunks at Khan's residence.
The raids lasted for several hours after which the ED hauled the massive amount.
Earlier on Saturday, the Enforcement Directorate (ED) had carried out search operations at six locations in Kolkata with respect to an investigation relating to the Mobile Gaming Application.
During the search operation, the ED said, it was noticed that the entities linked to the case were using dummy accounts.
During the initial hours, the ED had started recovering cash from these premises.
"So far, huge cash (more than ₹7 crore) has been found at the premises and counting of the amount is still under progress," the ED said.
The raids were conducted under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
The case was registered on the basis of the First Information Report (FIR) on February 15 last year at Park Street Police Station in Kolkata against one Aamir Khan and others based on a complaint filed by Federal Bank authorities, in the court of Chief Metropolitan Magistrate, Calcutta.
Amir Khan launched a mobile gaming application namely E-Nuggets, which was designed for the purpose of defrauding the public, the ED said.
During the initial period, the agency said, the users were rewarded with the commission and the balance in the wallet could be withdrawn hassle-free.
"This provided initial confidence among users and they started investing bigger amounts for a greater percentage of commission and a greater number of purchase orders," the probe agency said.
It said after collecting a handsome amount from the public, all of a sudden, the withdrawal from the App, was stopped, at one or the other pretext such as system upgradation, an investigation by law enforcement agencies.
"Thereafter, all data including profile information was wiped off from the App servers and only then the users understood the ploy."
(With inputs from ANI)
