Rs 1.9 crore in demonetised currency seized in Ahmedabad; RBI, I-T Dept, ED informed
The Ahmedabad Rural Police on Thursday shot off a letter to the Reserve Bank of India (RBI), Enforcement Directorate (ED) and the Income Tax Department after officials from Sanand police station seized demonetised currency notes with its earlier face value of over Rs 1.9 crore.
Notably, the last date of possible exchange for these denominations of Indian currency was exactly 8 years and a month ago. The police are trying to find out as to why such a large number of notes were being transported through rural Ahmedabad and who owned this cash and whether or not the notes were real or Fake Indian Currency Notes (FICN).
Officials from the surveillance squad of the Sanand police station were informed that a white Brezza car was heading from Bavla to Sanand with a large number of demonetised notes. A police team reached the Bavla bypass and intercepted the vehicle.
They found 29,756 currency notes of Rs 500 denomination each with a former face value of Rs 1,48,78,000, and another 4,154 currency notes of Rs 1,000 denomination with a former face value of Rs 41,54,000.
After demonetisation of notes was announced on November 8, 2016, currency notes of Rs 500 and Rs 1,000 denominations that were in circulation at that time had ceased to be legal tender in the country.
Later, the Rs 2,000 currency notes, which were introduced in lieu of the demonetised Rs 500 and Rs 1,000 notes, were withdrawn from circulation from May 19, 2023. However, they still continue to be legal tender.
Since the Rs 500 and Rs 1,000 notes hold no value at present, being caught with them is a non-cognisable offence. The Sanand police filed a seizure of property reports under Section 106 of the BNSS and asked the two men who were transporting the cache of old currency, to be present when called, during the investigation, said PI HG Rathod.
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