Scrapped notes of Rs 1 crore face value seized, four heldhttps://indianexpress.com/article/india/scrapped-notes-of-rs-1-crore-face-value-seized-four-held-5200502/

Scrapped notes of Rs 1 crore face value seized, four held

Thursday evening, police intercepted a car and recovered the old currency notes that were being brought to Gandhi for exchange.

rbi, demonetisation, note ban, new notes, new note series, terrorist financing, black money, rs 500 ban, rs 1000 ban, reserve bank of india, indian express news, india news, economy news
The accused have been booked under the Specified Bank Notes (Cessation of Liabilities) Act, 2017. They have been handed over to the special operation group (SOG) of police for further inquiry. (Representational image)

Demonetised currency notes with a face value of nearly Rs 1 crore were seized from four persons from Manjalpur locality in the city, police said on Friday.

The notes were seized last evening, following which four accused were arrested, police said.

“Old notes with a face value of Rs 99.97 lakh were seized from four persons in the city last evening. These notes, which were in the denominations of Rs 1,000 and Rs 500, were kept in the dickie of their car,” Vadodara police commissioner Manoj Shashidhar said.

The accused were identified as Kirit Gandhi, owner of a motor garage here, and three others- Karsan Parmar, Rajendra Ranjitsinh Raj and Manoj Alag Chauhan, from Bharuch.

“When the police got a tip-off that Gandhi gets the old notes exchanged, they kept a watch on his activities,” he said.

Thursday evening, police intercepted a car and recovered the old currency notes that were being brought to Gandhi for exchange, the commissioner added.

During the interrogation, the arrested accused revealed that a person named Raju was also involved in it.

The accused have been booked under the Specified Bank Notes (Cessation of Liabilities) Act, 2017. They have been handed over to the special operation group (SOG) of police for further inquiry.

Advertising

The police are also on a lookout for Raju, he said.