Home » Mumbai News » Mumbai: Five held with Rs 2.54 crore in demonetised notes
An Indian vendor displays wallets made from replica prints of the demonetised 500 and 1000 INR currency notes prints for sale at a stall in Mumbai on November 22, 2016.
India's Prime Minister Narendra Modi announced on November 8 that that 500 and 1,000 rupee ($7.50, $15) bills -- 85 percent of the cash in circulation -- would cease to be legal tender in a crackdown on fraud and tax evasion. The move -- which saw the notes withdrawn from circulation just hours after the announcement -- was initially welcomed, but frustrations have mounted in the largely cash-reliant country where millions have been left without enough to cover their daily needs.
 / AFP PHOTO / INDRANIL MUKHERJEE
An Indian vendor displays wallets made from replica prints of the demonetised 500 and 1000 INR currency notes prints for sale at a stall in Mumbai on November 22, 2016. India's Prime Minister Narendra Modi announced on November 8 that that 500 and 1,000 rupee ($7.50, $15) bills -- 85 percent of the cash in circulation -- would cease to be legal tender in a crackdown on fraud and tax evasion. The move -- which saw the notes withdrawn from circulation just hours after the announcement -- was initially welcomed, but frustrations have mounted in the largely cash-reliant country where millions have been left without enough to cover their daily needs. / AFP PHOTO / INDRANIL MUKHERJEE

Mumbai: Five held with Rs 2.54 crore in demonetised notes

Mumbai: The Mumbai police arrested five persons with cash worth Rs 2.54 crore in demonetised currency notes of Rs 500 and Rs 1,000. They were arrested on Wednesday night by the Tardeo and Antop hill police station. Police said they were going to exchange the demonetised notes with agents on commission basis.

The arrested persons are Sayyar Lakhaji Mali (41), Jaimin Arvind Vora (34), Rohit Ram Badal Pathak alias Rajesh Pandey (23), Pravin Shridhar Kamble (55) and Alvyn Augustine Borde (27). The accused were going to exchange the demonetised notes with agents for a commission of 30 to 40 percent.

According to Raosaheb Shinde, Additional Commissioner of Police (central region), “Based on a tip-off, the five persons have been arrested by the police on Wednesday night. Constable Dattatray Bansode from Antop Hill police station had received a tip-off that three persons were going to visit near Kalpak naka at Antop Hill. A team was formed to nab the accused. A car with two accused in it and a scooter was intercepted. Cash worth Rs.93.80 lakhs was seized.”

“In a separate incident, two accused were arrested by the Tardeo police on Wednesday night. Rs. 1.60 crore was seized from inside a car. The accused have been arrested and handed over to the Income tax department for further investigation on Thursday,” said Shinde.

A car with the registration number MH-02 CR 2442 and a scooter with the registration number MH-01- HP- 1799 was seized by the Antop hill police. Pathak and Kamble were nabbed from inside the car from Antop hill while Borde was riding a scooter. MH-43-Al-1080 was seized by the Tardeo police.

Mali and Vora were arrested from Lala Lajpatrai junction opposite the police chowky at Haji Ali by the Tardeo police. Rs.1.60 crore in demonetised notes was seized from them. The cash was kept in a gunny sack at the backseat of the car.

Mali, a businessman is a resident of Nalanda society at Malad (E). Vora, an estate agent is a resident of Rhodia apartment near Gokul hospital at Borivali (W). Pathak, a businessman is a resident of Bhagat Singh nagar chawl at Goregaon (W). Kamble, a real estate agent is a resident of Saikrupa Nivas at Wagle Estate at Thane (W). Borde, a garment businessman is a resident of MHADA colony at Antop Hill.

SOURCE: FREE PRESS JOURNAL

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