Rs 1 Crore Demonetized Money In Rs 500 & Rs 1000 Notes Seized In Thane, A Bank Employee With 2 Others -Arrested

Saicharan Palakurthi

In order to curb the lump sums of black money hidden, the Income Tax Department started its surgical raids on various parts of the country based on the spy reports post the demonetization.

From that very following day, the IT department has left no stone unturned in roping out the black money holders and illegal money transferring possibilities.

Related Articles: Demonetization Effects: This Is How INDIAN Banks Are Converting Black Money To White

According to the recent sources, Police have seized nearly Rs 1 crore in demonetised currency notes from three persons, who were later arrested, while acting on a tip-off, police intercepted a car at Parsik circle in Mumbra township of Thane district at around midnight on Tuesday.

Surprisingly, the police found Rs 1 crore in old Rs 500 and Rs 1,000 denominations and out of those three arrested, one woman is an employee of a private bank, according to the Thane reports.

“It is believed that the three were planning to get the notes exchanged for new bills. They were later arrested and a case was registered against them under relevant sections” said Thane police PRO Sukhada Narkar.

Police are trying to find out from where did the accused get the junked notes, Narkar concluded.

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