Hearing the plea of a terror accused that more than R 2 lakh that NIA had recovered from his possession should be remonetised, a Delhi court allowed the conversion but in the form of a fixed deposit.
District and Sessions Judge at Patiala House Court Amar Nath allowed the old notes to be converted with a condition that the chief investigation officer should keep the amount in the form of a fixed deposit receipt (FDR) in the name of the court.
The court said the fixed deposit will be for the period of one year, which shall be extended automatically on attaining maturity till further order.
The National Investigation Agency had arrested Syed Mujahid, 34, on January 22 last year after suspecting him of planning to carry out bomb blasts across the country.
The NIA had carried out a search operation at his home in Tumkur in Karnataka. During the raid, the NIA had seized R 2,83,000 in the denomination of Rs 1000 and Rs 500.
In the application, the counsel for the accused said the amount was are legitimate as it was earned through business and was the savings and pension amount of the accused’s parents.
The NIA did not oppose the conversion. But it said photocopy or scanned copies of the old currency notes be kept on record before depositing it in the treasury account maintained by NIA with the SBI branch in Connaught Place.
The NIA stated the accused be directed not to raise any objection with regard to admissibility of the seizure memo prepared after recovery.
According to reports, Syed Mujahid is a wholesale fruit merchant and the only son of Syed Hussain, a retired assistant tehsildar and a retired school teacher of Poor House colony in Tumakuru city.