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Police on Thursday seized Rs 1.40 crore in demonetised currency notes of Rs 500 and Rs 1,000 from office of a local builder and detained three persons. Acting on a tip-off that the builder Hemendra Shah was looking to exchange the defunct currency notes, police raided his office and recovered the amount.
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“We had received a tip-off that the builder, who has his office at Ambawadi, was looking to exchange his demonetised currency notes. Upon raid at the office of Anand Builders, we found Rs 1.40 crore in old currency notes of Rs 500 and Rs 1,000 denominations,” said Ellisbridge police station inspector B S Rabari.
He said three persons – Shah and his two associates – were detained in this connection and handed over to Income Tax officials for further questioning.