Demonetised currency worth Rs 1 crore seized in Thane

Mumbai: Acting on a tip-off, Thane Crime Branch officials seized demonetised notes of Rs 500 and Rs 1000 amounting to Rs 1 crore. The police arrested two persons identified as Manoj Chheda (36) and Prathamesh Gawade (22), who were carrying the money in a sack bag and a handbag.

The crime branch officials have transferred the case to the Income Tax department, which will investigate the matter further to trace the source of the money.

The crime branch officials received a tip-off that two persons were to arrive at Hotel Sai Krupa near Talaopali in Thane west, along with demonetised cash and accordingly laid a trap near the spot.

At around 9 pm on Friday, the accused arrived and stood near the mentioned hotel waiting for somebody with a sack bag and a handbag. The police intervened the duo on suspicion and checked their bags and found the cash.

The demonetised cash was in old denominations, which had 6,455 notes of Rs 1000 and 7090 notes of Rs 500. The police questioned Chheda and Gawade, residents of Parel and Dadar respectively, to which they kept mum and were not able to give a clear explanation over possessing such a large sum.

Thane crime branch officials have transferred the case to the Income Tax department, which will probe the matter and question the duo as to know the source of the demonetised cash and take the cognisance accordingly.