Jharkhand: Businessman arrested with Rs 25 lakh cash

“The man, identified as Ajay Jain, had come from Gaya. He was carrying Rs 25 lakh in cash, all in notes of Rs 1,000." said police.

Written by Prashant Pandey | Ranchi | Published:November 13, 2016 1:41 am

Amid the rush for cash across the state, Hazaribagh Police has arrested a businessman from Gaya in Bihar for allegedly carrying Rs 25 lakh in cash. The authorities said he had not been able to explain the possession of the cash or where he intended to keep it. SDO (Sadar), Hazaribagh, Shashi Ranjan said: “The man, identified as Ajay Jain, had come from Gaya. He was carrying Rs 25 lakh in cash, all in notes of Rs 1,000. When asked, he could not explain.”

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Preliminary investigation has revealed that Jain used to run a garments shop in Gaya town. “We have learnt that it does good business. During interrogation, he initially said that he had come to deposit the amount in a bank. Then, he said he had come to give it some relatives. Lastly, he said his brother’s mother-in-law used to live in Hazaribagh and he had come to give her the money. We are probing further,” said a police officer.

So far, Jain is not suspected to have any links with Maoists, but authorities said they were keeping an eye on such inputs. “There are inputs that the Maoists may try to park money by breaking it into smaller amounts of around Rs 2 lakh and roping in people to get their money deposited. We are keeping a check on movement of cash from contractors, shopkeepers and petrol pump managers,” said a senior official.

In Azad Nagar area of Giridih, people spotted notes flowing in a gutter. Meanwhile, bank branches across the state witnessed long queues and harried customers.