Banned currency worth Rs 30 lakh seized

  • | Wednesday | 22nd March, 2017

In a major catch the rural district police under Neyyatinkara sub-division have seized demonetized currency notes worth around Rs 30 lakh. The police also arrested three men in connection with the catch, including an employee of the postal department. The police identified them as Shobhanan, 51, of Chenkal, Bimal Roy, 41, of Pappanamcode and Renjtih, 30, of Pettah. Among them, Shobhanan is an employee at the postal department.

In a major catch the rural district police under Neyyatinkara sub-division have seized demonetized currency notes worth around Rs 30 lakh. The police also arrested three men in connection with the catch, including an employee of the postal department. The police identified them as Shobhanan, 51, of Chenkal, Bimal Roy, 41, of Pappanamcode and Renjtih, 30, of Pettah. Among them, Shobhanan is an employee at the postal department.

According to Neyyatinkara DSP B Harikumar, the catch comprised notes of Rs 500 and Rs 1,000 denominations that had ceased to become legal tenders following the demonetisation drive in November last year.

The gang was busted based on a tip off on Monday evening.
"They told us that they were taking the cash to an agent in Tamil Nadu," the DSP said. They started their journey from the city. They claimed to be unaware of the final destination. At regular intervals, they kept receiving their next destination as text and they would proceed to that spot and wait for the next message. It was when they were waiting for a similar message at Amaravila, the police intercepted them.

The gang also told the police that there were several agencies in Tamil Nadu that still procured demonetized currency notes. They offered 30% of the amount being given as commission.

"They told us that banks in Chennai still received old currency notes from non-residential Indians and they made use of this opportunity to legalize the currency notes in hand," Harikumar said adding that the veracity of this claim needed to be checked because to their knowledge all the states in the country had the same deadline to get their old currencies exchanged in banks.

The police have registered a case under section 41(1) (d) and 102 of CrPC and the accused were produced before the court.
The DSP added that the case would be handed over to the enforcement directorate and a report in this regard was forwarded to them already.


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