Bellary shredded note mystery solved!

June 13, 2012 20:16

Vicky Nanjappa reports: The mystery behind 400 sacks full of shredded currency notes, which was found at Bellary, has been solved. It has been found that the notes were legitimately procured from a company in Madhya Pradesh., which had obtained them from the Indore unit of the Reserve Bank of India.

The pulp obtained by processing the currency notes is used in making plywood. Bellary police had raided the factory of Krishna Industries, belonging to one Sreenivasa.

Superintendent of Police Chandragupta said that the inquiry revealed that Sreenivasa had been procuring shredded notes from a company in Indore, Madhya Pradesh, since 2008.

The company in Indore receives shredded currency notes from the RBI through a tender.

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