Delhi: Delhi Crime Branch team has arrested 4 people with old currency notes which were banned in 2016. More than Rs 3.5 crore currency has been recovered from them. Police have also seized two vehicles from the accused involved in this business. Police believe that after interrogation, more people associated with this gang may soon be revealed. At present, the police is busy interrogating all four accused by taking them into custody.
Delhi Police has taken this action near Gate No. 4 of Shalimar Bagh Metro Station. Police had received information that some people were making illegal deals in old Rs 500 and Rs 1,000 notes. After receiving the information, investigation was done. When this was confirmed, a team was formed and a raid was conducted, in which four accused were caught red-handed with cash worth Rs 3.5 crore. The accused were trying to buy these notes at a very low price and sell them to someone else at a higher price.
Used to deceive RBI about currency exchange
Police said that the accused have been identified as Harsh, Tek Chand, Lakshya and Vipin Kumar. During interrogation, the accused told that earlier they used to deceive people that this currency could be exchanged from RBI. With this claim, they used to buy old currency at very low prices. The accused also told that they knew that keeping or dealing in this note is a legal offense. The police arrested the accused because they did not have any valid reason or documents. All the recovered currencies have lost legal recognition after demonetisation on 8 November 2016.
What are the rules?
According to Indian law, now the old currencies of Rs 500 and Rs 1000 have been discontinued. In such a situation, possessing, buying or selling such notes after demonetization is a punishable offense under the Specified Bank Notes Act. On this basis, the police have registered a case against the accused. Delhi Police says that investigation is going on to find out who is involved in this illegal business.