Monday, 28 May, 2018

Demonetised notes worth Rs 100 crore seized from residential premises in Kanpur

A raid by NIA unearthed Rs 80 crore in old notes A raid by NIA unearthed Rs 80 crore in old notes
Nellie Chapman | 17 January, 2018, 13:26

According to the police, the amount recovered in the city is one of the biggest hauls since PM Modi's November 8, 2016 announcement declaring Rs 500 and Rs 1000 notes as illegal tender.

Around Rs 100 crore worth of demonetised currency was seized from an under-construction house in Swarup Nagar locality of Kanpur by National Investigation Agency (NIA) sleuths and Uttar Pradesh cops, it was reported on Wednesday. "Raid was conducted, RBI and I-T dept officials informed, final amount not ascertained as search and counting underway, questioning on", AK Meena, Senior Superintendent of Police, Kanpur told ANI.

"Received information of presence of demonetised currency worth crores at a person's residential premises in Kanpur. The house belongs to businessman Anand Khatre who is among arrested persons", Arya added.

Since there was no terror angle involved, the information was shared with the UP police and a joint raid was conducted.

A team from the Reserve Bank of India (RBI) and the Income Tax (IT) Department will disclose the exact amount of the seized currency later, said the officer.

In November past year, the NIA had recovered Rs 36 crore in old banknotes from Delhi.

"Khatri is believed to be the mastermind of the racket", said the police officer claiming that maximum notes were seized from Khatri's location and two persons among 16 arrested by the police hailed from Hyderabad.

The police named the owner of the house as Ashok Khatri, who runs a money exchange business. He is the main conduit in the exchange of money.

Anand Kumar, the additional director general of police (law and order), said the arrested people were being interrogated and multiple agencies have been requested to check their backgrounds.