16 held in connection with seizure of Rs 96cr in old notes

Seized currency notes

"In the raids conducted jointly by the National Investigation Agency (NIA) and Uttar Pradesh Police, almost Rs 97 crore in old currency notes have been recovered", principal secretary (Home) Arvind Kumar told reporters in Lucknow.

A team from the Reserve Bank of India (RBI) and the Income Tax (IT) Department will disclose the exact amount of the seized currency later, said the officer. They had stores huge amounts of demonetised notes in gunny bags and kept them at the builder's ancestral home.

The arrests were made after the police got a tip-off from the NIA. There was a bed of old Rs 500 and Rs 1,000 notes that were demonetised on November 8, 2016.

The Police named the owner of the house as Ashok Khatri, who has a money exchange business. Others arrested were Santosh Pathak and of Varanasi, Ramashray, Sanjay Rai and Dhirendra from Mirzapur, Sant of Baghpat, Omkar Yadav of Lucknow and Anil Yadav of Saharanpur.

In signs that unaccounted or fake currencies have been floating around post demonetisation, currency notes with a face value of Rs1 crore were seized from a vehicle at Uppiliapuram in Tamil Nadu on 14 January and four persons were detained in this connection.


Earlier, the NIA had recovered Rs 36.34 crore in demonetised currency in Delhi in November previous year.

Meena said the National Investigation Agency (NIA) had gathered inputs about some companies and individuals involved in converting illegal currency into legal money and shared the information with Inspector General of Police, Kanpur, Alok Singh.

The police has yet not revealed the name of persons arrested and further investigation is going on into the matter.

"Received information of presence of demonetised currency worth crores at a person's residential premises in Kanpur".

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