4 held with demonetised currency worth 3.5cr

SURAT: Navsari crime branch officers on Monday seized demonetised currency notes to the track of Rs three.five crore from 4 persons in Undach village near Surat overdue on Sunday. The 4 accused persons were arrested.


Police mentioned two of the accused hail from Mumbai while the rest two are from Gujarat.


Police discovered 42,300 currency notes in Rs 500 denomination and 13,432 notes in Rs 1,000 denomination from Jitendra R Panigrahi, Fair G Motorwala, Khara Abrama, Mahomad Mubin M Shekhi and Altaf A Shekih.


Police mentioned that that they had set a trap following a tip off in Undach.


Following the principle interrogation, it has come to the light that these people used to gather demonetised currency at the rate of seven paise in keeping with rupee and then promote it at the rate of Rs 10 paise in keeping with rupee.
4 held with demonetised currency worth 3.5cr 4 held with demonetised currency worth 3.5cr Reviewed by Kailash on February 11, 2019 Rating: 5
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