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emfizz.com July 21, 2017


Chennai: Rs 45 crore old notes seized

19 May 2017, 10:13 | Bernard Bryant

Chennai: Rs 45 crore old notes seized

Chennai: Rs 45 crore old notes seized

More than six months after demonetisation of Rs 500 and Rs 1,000 notes by the union government, police, revenue department, Income tax department continue to seize demonetised currency notes stashed by many during raids. Dhandapani, also explained that the jewellery shop owner had asked him as a favour to keep the money until he could find a way to get it exchanged legally. On investigating, the police found that the owner of the money had a jewellery shop in Sowcarpet as well as a finance firm in Teynampet. According to a report by the Times of India, a police team, led by Deputy Commissioner of T Nagar, Saravanan and Chitti Babu, an inspector from Kodambakkam raided a tailor shop that stitched police uniforms. When the initial search did not yield anything substantial, the policemen were reportedly preparing to leave. They opened it to find demonetised notes stashed in it.

According to police, Dhandapani might have been involved in exchanging old currency notes with the new ones for a commission.

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The owner of the shop Dhandapani, who was questioned by the police, claimed that the money belonged to a city jewellery shop owner. The seized notes will be handed over to the jurisdictional court. Since demonetisation was announced on November 8, there have been several raids in Chennai on businessmen and others. In December 2016, Tamil Nadu sand mining baron, Shekar Reddy, had been arrested following massive seizure after the Income Tax department raided his premises.



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