Officials suspect that the money belongs to gangs who are involved in illegal exchange of new notes and old demonetised currency.
Mumbai: The crime branch of the Mumbai police on Friday seized Rs 85 lakh in cash, including Rs 72 lakh in new high-denomination notes, when it intercepted an Innova car in Matunga area. It has detained eight Mumbai-based businessmen in connection with the case.
DCP Ashok Dudhe, spokesperson of Mumbai police, said, “Crime Branch unit has seized Rs 85 lakh from BA Road Matunga area and now enquiry is going on.” According to crime branch sources, its officers were tipped off that a car carrying new notes worth one crore rupees was expected to visit Dadar area on Friday afternoon. Following the tip, officials laid a trap in Hindu Colony of Dadar area. Officers later nabbed eight people in the car and seized the currency.
According to crime branch officials, the currency, concealed in a plastic bag, contained Rs 72 Lakh in Rs 2,000 notes and Rs 13 lakh in the form of old Rs 100 notes. Officials suspect that the money belongs to gangs who are involved in illegal exchange of new notes and old demonetised currency. An inquiry has been initiated into the source of the notes. Crime branch sources revealed that the preliminary investigation suggests that the currency belongs from Gujarat. Officials investigating the matter immediately informed the income tax department.
The sources informed The Asian Age that one detained person has been identified as Haresh Shah, a south Mumbai-based businessman. The names of the others who were detained are being withheld by the police.