Demonetised currency worth Rs 100 crore seized in Kanpur, 16 arrested


Daijiworld Media Network

Kanpur, Jan 17: Demonetised currency worth Rs 100 crore crore was seized from a house by the Uttar Pradesh police during a raid in Kanpur's Seesamau pocket.

The cash was in Rs 500 and Rs 1,000 denominations, which were demonetised by the government in November 2016.

“The final amount is yet to be ascertained as the counting is underway. Upon receiving a tip-off, a raid was conducted by teams of the Reserve Bank of India (RBI) and Income Tax (I-T) department officials. The department is interrogating the people involved, said AK Meena," senior superintendent of police (SSP) to the media.

Counting of the banned Rs 1,000 and Rs 500 notes is on and police said the total amount "could well cross the Rs 100 crore mark".

The big cache of banned notes was recovered from the house of Ashok Khatri, who has interests in real estate, after the National Investigative Agency (NIA) tipped off the Reserve Bank of India (RBI), the Income Tax department and the Uttar Pradesh police.

Sources say the money belongs to a group of businessmen based in NCR, Kanpur, Lucknow and some other prominent cities and that Khatri was a front who was trying to arrange to launder this money.

Police officials said that 16 persons have been arrested so far, including Khatri, and they were being questioned by various agencies to ascertain the source of the large amount of money.

Additional DG (Law and Order) Anand Kumar said the arrested persons were trying to exchange the money with the new and valid currency. "All people who were acting as the go between have also been arrested," an official said.


With IANS Inputs

  

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Comment on this article

  • Roshan, Mangaluru

    Wed, Jan 17 2018

    This is a perfect evidence to prove, how and why demonetization failed.

    With money accounted 100 percent of 100 percent by RBI, of the banned notes. This un-accounted money in banned notes proves, black money already got converted into white, without even having to return the banned currency back to RBI.

    Wait for a day or two, RBI would come up with a clarification if the guy is linked with BJP, saying the money which was with RBI, was given to that guy for re-cycling under a confidentiality agreement.
    Period.

    DisAgree [9] Agree [14] Reply Report Abuse

  • Ramesh S, MANGALORE

    Wed, Jan 17 2018

    ..Demonetised failed!!..how..above report shows Demonetisation succeeded..if its white money then why its not deposited in Bank, its 100crores!..its black so they scared..why you expect all money shouldnt come to bank..if its legal it should come..but sad part is , many officials, agents politicians used every means to deposit cash..you should know that nearly 50 bank mangers, more than 100 agents caught..till date here & there crores of old notes recovered.. dont say 100% notes already came back, it may cross 110% also..truth is RBI itself doesnt know how many currency notes are in circulation since from Congress era it was in printing spree only..

    DisAgree [7] Agree [8] Reply Report Abuse

  • sri_elder, Karkala

    Wed, Jan 17 2018

    Rbi said they did not get back 16,000 crores,
    That is really significant amount...

    DisAgree [5] Agree [7] Reply Report Abuse

  • dominic-dsouza-Rudy, mudarangady mauritius

    Wed, Jan 17 2018

    black money from bank of swizerland UP

    DisAgree [1] Agree [12] Reply Report Abuse

  • MN, Mangalore

    Wed, Jan 17 2018

    Someone said it failed! Its working...

    DisAgree [1] Agree [24] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Wed, Jan 17 2018

    Yogi Adityanath should be given National Award ...

    DisAgree [7] Agree [27] Reply Report Abuse

  • HENRY MiSQUITH, Bahrain

    Wed, Jan 17 2018

    Netanyahu please come on stage to present the national award

    DisAgree [1] Agree [12] Reply Report Abuse

  • sri_elder, Karkala

    Wed, Jan 17 2018

    IT need to investigate congress role...

    DisAgree [22] Agree [12] Reply Report Abuse


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Title: Demonetised currency worth Rs 100 crore seized in Kanpur, 16 arrested



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