Over 1 crore in new Rs 2,000 notes seized from 3 businessmen in Thane
Thane police on Tuesday evening seized over Rs 1 crore in the new Rs 2,000 currency notes and detained three persons in connection.
Senior police inspector Nitin Thackeray who led the team which seized the notes from near Thane Civil Hospital said that three men, Chintan Rambhia, Govrav Pichar and Harish Raut, were detained.
According to police sources, the action was the result of an alleged tip-off that Unit I of the Thane Police Crime Branch received on Tuesday.
The informant told officials about the exchange old high denomination notes for new ones, following which they laid a trap near Thane Civil Hospital.
The suspects reached the spot in a Toyota Innova and cops found Rs 1,00,44,000 in cash in Rs. 2000 notes while searching their vehicle.
Joint Commissioner of Police Ashutosh Dumbre told news agency PTI that three persons were going to exchange the new Rs. 2,000 notes totalling Rs. one crore for the defunct Rs 500 and Rs 1,000 notes totalling Rs 1.20 crore, charging 20 per cent commission.
“We are questioning them and have also informed the Income Tax authorities,” he said.
The police are also trying to figure out how the accused managed to acquire the note notes in bulk and if any illicit bank activity was involved.
On Monday evening, two persons were held in neighbouring Navi Mumbai with Rs 23.70 lakh, while three persons were held in Ulhasnagar in Thane district after Rs 9.76 lakh in Rs 2,000 denomination were seized from them.
Following the demonetization of Rs 500 and Rs 1,000 notes on November 9, the Reserve Bank of India had allowed each citizen to exchange only Rs 4,500 in old notes at banks.
The exchange limit was later reduced to Rs 2,000 on November 18, and discontinued from November 24 to keep exchange of unaccounted income in check.