Summary:
“We sent information that we were ready to purchase scrapped notes having face value of Rs5 crore from them. The four accused will be produced in a court in Navsari shortly and their remand sought, police added. We waited for the gang members who were coming in a car at Undach and seized the demonetized notes having facing value of Rs3,50,82,000 from them.”The gang used to purchase demonetized currency note at the rate of 7 paise per rupee and then sell it at 10 paise. Surat: Sleuths of crime branch caught four persons after they were found in possession of scrapped currency notes having face value of Rs3.5 crore at Undach village in Jalalpore taluka of Navsari district on Sunday.Two accused are from Mumbai, one from Pardi in Valsad and one belongs to Jalalpore in Navsari.Police said they found 42,300 notes of Rs500 denomination and 13, 432 notes of Rs1,000 denomination with Jitendra Panigrahi (Mumbai), Fair Motorwala (Navsari), Mahomad Mubin Shekhi (Mumbai) and Altaf Sheikh (Valsad).Police said they were tipped off by an informer about the gang with demonetized notes..