On Thursday, police seized Rs. 45 crores in demonetised money from a tailor shop in Zackariah Colony in Kodambakkam. The police received an anonymous tip off and acting on it the team, led by Saravanan, the Deputy Commissioner of T Nagar raided the shop that stitches uniforms for the police.
The police seized four gunny bags of money with Rs. 500 and Rs. 1000 denominations that were demonetised on November 8. The shop is owned by Dhandapani who has been taken into custody. Dhandapani admitted to the police that the money was given to him by Pathan Gilani, a relator in Pondy Bazaar. The police, however, suspect that Dhandapani was an agent and exchanging money illegally.
Police also suspect that he stockpiled the money but failed to exchange it. The police reported the case to RBI and submitted the cash to the bank. The police said this case will be shifted to the Income Tax department or the Directorate of Revenue Intelligence.
There have been several raids in Chennai after demonetization on business people and others. The biggest so far has been on Sekhar Reddy, the mining baron, and two associates. A total of Rs. 130.5 crores have been seized by the I-T department in old and new currencies. This excludes 177 kg of gold that was seized.
