UP police busts biggest haul of demonetised currency notes in Kanpur

Adjust Comment Print

Uttar Pradesh police, after receiving inputs from the National Investigation Agency (NIA), raided a person's residential premises in Kanpur and seized demonetized notes worth about Rs 80 crore.

In November 2016 after a sudden step of the government towards demonetization, the government declared to deposit all the old notes of Rs. 500 & Rs. 100 within just 1 month and banned completely the same since 1 January 2017.

"We received information of the presence of demonetised currency worth crores at a person's residential premises in Kanpur", AK Meena, Senior Superintendent of Police (SSP) said. The Act ends the liability of the Reserve Bank of India and the government on the demonetised currency notes.

Among the other arrested accused are Santosh Pathak of Varanasi, Sanjay Kumar of Mirzapur, Sant Kumar Yadav of Baghpat, Onkar of Lucknow, Anil Yadav of Saharanpur, Ramashrey of Mirzapur, Sanjay Kumar Singh of Varanasi, Dhirendra Gupta of Mirzapur, Sanjeev Agarwal of Kolkata, Manish Agarwal of Howrah, Koteshwar Rao of Hyderabad, Ali Hussain of Guntur and Rajeshari of Prakasam in Andhra Pradesh.

An interrogation by the I-T department officials is underway. All of them were arrested on Tuesday.

It was revealed that a huge amount of demonetised currency notes was stored in gunny bags in the builders ancestral house near Gole Chauraha in Swaroop Nagar.

They have been booked under various sections of the IPC and the Specified Bank Notes (Cessation of Liabilities) Act, which makes possession of more than 10 pieces of old Rs 500 and Rs 1,000 notes a criminal offence, attracting fine of Rs 10,000 or five times the cash held, whichever is higher.

Sixteen people were arrested, including a noted builder, and a professor. Download The for your device.