Scrapped notes worth Rs 1.12-cr seized from Pune bizman

November 25, 2016 16:13

Police in Pune seized cash worth Rs 1.12 crore, all in banned denominations of Rs 500 and Rs 1000 from a businessman in the city.

According to Lashkar Police Station, the businessman, Bharat Shah, wanted to convert his alleged unaccounted money through some agents at 25 per cent commission.

"We received a tip-off that Shah was planning to meet some people on MG Road on Friday morning to convert the cash," said a police inspector, attached to Lashkar police station.

Subsequently a trap was laid and Shah was detained for questioning.

"We recovered 22,444 demonetised notes of Rs 500 denomination and 28 demonetised notes of Rs 1000 denomination from him," the police official said.

"Though Shah is claiming that the cash seized from him are his savings, we suspect that it is unaccounted money, which he wanted to convert," said the officer.

Police said no case has been registered against Shah but Income Tax department has been notified about the seized notes.

« Back to LIVE

TOP STORIES

Can Modi Win A Simple Majority?

2019 was the Bharatiya Janata Party's breakout year, when it stretched the boundaries of what was thought possible and ended up with 303 seats on its own steam. Now it is forced to play defence, on a pitch queered by too many variables,...

Next-gen politicians battle it out for Samastipur

'Dynastic politics has become a tool of convenience for political parties. The BJP does not hesitate to accept it when it comes to its own alliance or party candidates. The same goes for the others.'

Head, Abhishek's Records Galore!

The left-handed pair put on a hundred between them inside the Powerplay, a feat they've achieved twice this IPL, setting the record for the highest Powerplay scores in all T20 cricket on both occasions.

Did LSG Owner Scold Rahul?

Fans expressed discomfort over the incident. Many believe such matters should be addressed in private to maintain team morale and the captain's authority.

Real Madrid book Champions League final date with Dortmund

This sets up Real Madrid final against Borussia Dortmund, who knocked out Paris Saint-Germain in the other semi-final.