Invalid Notes Worth `64L Recovered, Lawyer Detained

MP,4 March 2017: Police detained a lawyer after Rs 64 lakh in old invalid high-value notes were recovered from his house at Chitpur on Saturday. 

It should also be recalled that miscreants looted Rs 51 lakh of old invalid currency notes from four Baguiati businessmen on Friday. Later, police arrested five persons in connection with the case from South 24 Parganas. 

Studying these incidents thoroughly, there are several points that the investigators have started to probe. 

After the two such incidents which were almost similar, the investigators are looking for some answers. They were probing that why those old notes were so much in demand. What really piqued the investigators' suspicion was why the accused took so much of interest in holding onto those old notes. Some took the possession of those old notes forcefully, and other accused tried to conceal it to his house. The old notes have no value in market, as per the RBI guidelines. However, the investigators suspect that those accused persons could have connection with counterfeit currency rackets. 

The investigators are suspecting that there is still a huge cache of old-notes available in the local market. 

Those Baguiati businessmen took back routes to exchange those old notes. They took those bunches of old notes to some men in South 24 Parganas' Nodakhali who promised the businessmen of exchanging the old high-value notes with new Rs 500 and Rs 2,000 notes. 

The police detained the lawyer and recovered Rs 64 lakh from his house on Saturday. There were Rs 500 and Rs 1,000 notes available in a bunch. The lawyer was interrogated. But he could not reveal the source of the money. 

In Friday's incident, those men did not exchange old notes while the Baguiati based businessmen turned up there at Nodakhali. Rather, they robbed the money from those businessmen. 

Following their advice, those businessmen carried those old notes to Nodakhali and the accused persons overpowered the Baguiati-based traders. The bag full of old notes was snatched instantly. Read more at: