Demonetised notes worth Rs 100 crore seized from residential premises in Kanpur

Biggest Note Haul: Demonetised notes worth over Rs 100 crore seized from Kanpur house

In a raid at a building in Uttar Pradesh's Kanpur, the National Investigation Agency (NIA) has recovered currency worth Rs 100 crore (and counting) - all in demonetised Rs 500 and Rs 1,000 notes, making it the largest-ever haul of demonetised notes in the country.

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. On the tip-off provided by them, three others including Anand Khatri, a prominent city builder and two other locals including Santosh Yadav, a professor of DAV college and Mohit Dhingra, were arrested. The raid was reportedly carried out by NIA with the help of the UP Police.

As much as Rs 96.62 crore was found in banned notes of Rs 1,000 and Rs 500 and 16 people, including a builder, were arrested.

Several of the arrested people are from Lucknow, Mirzapur and Hyderabad. This is the biggest confiscation of old notes since the currency ban in 2016.

Initially, they tried to mislead police, but later during intensive interrogation, they broke down and confessed their crime, the SSP said.

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It was revealed that huge amount of demonetised currency was stored in gunny bags in the builder's ancestral house near Gole Chauraha in Swaroop Nagar.

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

According to the police officials, they had arrested the concerned person and doing the further investigation to check out the involvement of another person if there is any. The currency belonged to four-five "individuals or companies" including a distinguished detergent-maker, an NIA official said.

"We received information of the presence of demonetised currency worth crores at a residential premises in Kanpur, a raid was conducted", said senior Police officer A.K. Meena, adding that the counting was still on. Download The for your device.

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