Junked notes worth Rs 25 crore seized in UP, four arrested

Police said that a Dehli-based firm had been exchanging demonetised currency with new notes on a hefty premium.

“We have recovered junked notes worth Rs 25 crore from the office of the builder, Sanjeev Mittal, at Rajkamal Enclave. Four persons have been arrested in this connection and they have been identified as Ashok Sharma, Naresh Agarwal, Yogendra and Arun Shukla,” said Kankarkheda Police Station Incharge Deepak Sharma. He said that of the arrested, Naresh was working with the Dehli-based firm and had worked out a deal with the builder for exchange of the notes.

“Mittal could not convert the demonetised currency in his possession during the window provided by the government. We put the suspects under surveillance and found that a gang was trying to convert this demonetised money,” added Sharma.