The Mumbai Crime Branch Unit 5 have seized Rs85 lakh from Matunga. They have detained four individuals for running a racket exchanging old currency into new currency. The four were caught while trying to deliver the new notes to a south Mumbai-based businessman.
The police said the accused had with them Rs2,000 notes worth Rs72 lakh and Rs100 notes worth Rs13 lakh.
An officer from Crime Branch Unit 5 said, “We have detained everyone and will be handing them over to the Income-Tax department, and after they complete their inquiry we will see whether to register a case.” Sources added those carrying cash were to get 50% commission.
Deputy commissioner of police Ashok Dhude (spokesperson) confirmed the seizure and said their investigation is in progress.