Rs. 100 Crores In Demonetised Notes Seized In Kanpur

Rs 100 Crores In Demonetised Notes Seized In Kanpur,Mango News,Latest Breaking News 2018,2018 Business News Update,Rs 100 Crores In Demonetised Notes in Kanpur,Kanpur Breaking News,Kanpur Latest News Update,100 Crore Demonetised Currency in Kanpur,NIA Seized Demonetised Currency
100 Crores In Demonetised Notes Seized In Kanpur

The National Investigation Agency (NIA) and Uttar Pradesh (UP) Police seized a huge amount of demonetised notes worth around Rs. 100 crores. The demonetised notes were seized from an under construction house in Kanpur. This is said to be one of the biggest hauls since the demonetisation in November 2016. An NIA Official stated around 4 or 5 individuals and a prominent detergent maker are involved in this.

A UP Police Official stated a builder from Sisamau Bazaar led the police team to where the currency was stocked. The NIA suspects the cash was hidden with an intention to convert it to legal currency. A Senior NIA Official said, “We got the information that huge amount of demonetised currency was being stored in an under construction house in the Swarup Nagar locality of Kanpur. Since there was no terror angle involved, the information was shared with the UP police and a joint raid was conducted.” The Police Officials requested for anonymity of their names.

Another Police Official stated the raid was conducted in Sisamau, Kanpur and some people were arrested from a hotel in Swaroop Nagar. The Official said, “Kanpur police has unearthed huge amount of old currency notes from a locked house. Negotiators who promised to get it exchanged were also arrested.” He further added, “We are looking if there was any involvement of Government officers.”

It is said according to the Reserve Bank of India (RBI) more than 99% of the demonetised notes have returned to the banks. The Income Tax Department has been informed about the seizure. They were further asked to find out how the entire amount of Rs. 100 crores were to be exchanged. The Police further refused to divulge the names of the accused. Inspector General of Police Alok Singh of Kanpur Range is monitoring the case.

Previously in November last year, the NIA seized demonetised currency worth Rs. 36.34 crores.


Please enter your comment!
Please enter your name here