The Central Bureau of Investigation on Thursday conducted searches at 32 places in Maharashtra in connection with the alleged exchange of demonetized currency notes. The investigation was conducted at the Administrative Office and 17 branches of a Maharashtra-based co-operative bank as well as the residential premises of the accused persons at Pune, Baramati and Lonavala. During the investigation, incriminating documents were recovered which are currently being scrutinised by the agency.
It was alleged that after note ban exercise was announced, the accused bank officers in Maharashtra’s cooperative bank exchanged the demonetized general currency notes of Rs.1000 and Rs.500 denomination amounting to Rs. 40 lakh with an equivalent amount of currency notes of Rs.100 and Rs.50. The notes were collected from different branches of the said co-operative bank.
It was also alleged that the bank officers replaced the original small cash books with new summary books which reflected false entries to accommodate the exchange of scrapped notes. While the probe is underway, the agency has registered a case under Sections 120-B, 420,471,477- A of IPC and Sections 13(2), 13(1)(d) of PC Act 1988 against nine officers of the bank.
On Tuesday evening, acting on a tip-off from NIA, the Kanpur police conducted raids and recovered old currency notes worth Rs 97 crore from an under-construction house. Sixteen people were also arrested in connection with the case. An FIR has been lodged in this connection and an investigation is underway.